The high-end of the Denver housing market continues to avoid the slowdown
from rising interest rates and high foreclosure rates, which is hitting the
lower and middle markets. According to a new report released by Metrolist,
expensive homes continue to sell well, which pushes up the average selling
price of all homes.
The Denver housing market is a buyer's paradise with a record of 31,900
existing homes on the market in June. With this many homes on the market,
buyers have the luxury of being extremely selective. This is leading to an
increase of an average of 102 days to sell a home, versus only 92 days a
year ago.
Despite the glut of homes on the market, the median price of a Denver area
home sold and closed in June rose to $335,111, which is almost $20,000 more
than the May average of $315,257. This increase is attributed to the
strength at the upper-end of the market and the slew of lower-priced homes
that are going unsold.
Real Estate Resources
Recent Posts
Covers everything about the great city of Denver and its real estate market!
Comments(0)