The Denver housing market remains among the hottest in the country. Here are some key recent statistics:
1. The average price of a single-family house in metro Denver climbed another 11 percent year-over-year in September to $398,591.
2. The number of single-family houses sold in September was 3,509, a 0.11 percent decrease from the same month in the prior year, when 3,513 homes were sold. This slight decline could indicate some easing of the demand that has fueled the pace of Denver’s housing market.
3. There were 12 percent more new listings on the market than a year ago. In September, 4,247 new listings were on the market, compared with 3,768 last year. This increase in inventory is badly needed, where high demand kept inventory low for most of the summer.
4. The average time on the market for houses in metro Denver dropped to 30 days from 35 days one year ago, an indication that homes on the market are going faster than they were last year.
5. Average condo prices in metro Denver increased by 16 percent year-over-year in September to $253,019 from $217,743 last year. Condos spent even less time on the market than single-family houses, with the average time on the market dropping by 17 percent from last year to 24 days.
6. The number of condos sold in the month increased slightly from 1,446 last September to 1,451 this year.
7. Year-to-date, the metro Denver residential real estate market has accrued a recordbreaking $15.4 billion in total sales volume, a 15 percent increase from 2014.
8. Month-over-month, the housing market continued its seasonal slowdown, with single-family house prices dropping by 2.5 percent from August to September and condo prices dipping by 0.78 percent.
9. Nationally, prices in the Denver metro area remain some of the highest, and CoreLogic estimates that 2016 will be a year of continued growth for home prices, but at a slower rate than 2015.
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