Pre-Recession Levels

Denver home prices have officially risen to pre-recession levels with a 9 percent year-over-year increase during the second quarter.

June brought 9,187 homes for sale, up from the 8,214 available in May, with sales increasing 3 percent from May and 7 percent from June 2012. It is true that interest rates have slightly increased, but the rates are still below 5 percent and haven’t affected the buyers market.

As far as luxury sales go, June was another strong month for sales of homes with a price tag more than $1 million, with a 23.6 percent increase in sales volume from a year earlier.

Average days on the market to sell those luxury homes came in at 190 days in June, down from the 213-day average posted in May and down 3.6 percent from the 197-day average posted in June 2012.

Even more impressively, the number of foreclosure filings in Colorado from January through June is down nearly 50 percent from the same period of 2012. Overall, the state has dropped to seventeenth in the nation for foreclosure filings.

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