July 2014 Denver Market Update
The inventory of homes available for sale has increased and buyer demand remains strong!
The availability of active listings remains limited and prospective buyers are becoming even more creative in the market. Interest rates remain under 5%. Available rentals are increasing somewhat, rents continue to remain high, and home ownership is generally cheaper than renting. Consumer confidence increased in June to 85.2 up from 82.2 in May.
In the $500,000 to $749,999 price range, 493 homes closed in June, 2014 with an average sold price of $598,329 resulting in a closed dollar volume of $294.9 Million.
One Hundred Twenty Two (122) homes sold/closed in June, 2014 in the $750,000 to $999,999 price range with an average sold price of $847,944 resulting in a closed dollar volume of $103.4 Million
In the $1 Million or greater price range, 90 homes closed in June, 2014 with an average sold price of $1,610,926 resulting in a closed dollar volume of $144.9 Million.
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