A Market Update for Denver County

As spring weather sets in, it is a great time to look at the Denver Real Estate market. Spring is notoriously when the real estate market starts to heat up for the year. Many listings come on in the spring from the winter down months. Here are some statistics comparing year to date (YTD) numbers from 2015 to 2016:

 

YTD 2015 2016 +/-
Under Contract 3,740 3,696 -1.2%
New Listings 3,330 3,425 + 2.9%
Sold Listings 2,521 2,463 – 2.3%
Total Days on Market 33 33 0%

 

Median Sold Price $324,000 $344,500 + 6.3%
Average Sold Price $380,217 $421,863 + 11%
% of Sold Price to List Price 99.9% 99.5% – .4%

 

 

There has been quite an increase in average sale prices, which is not a surprise in this market. Buyers are finding they have to offer over the asking price in order to get a home under contract. The total listings have remained low compared to historical numbers in Denver. This is driving up demand for the few listings that are available. With the right agent we can get you top dollar for your home and find you a new home. Whether you are looking to buy or sell please contact Ajax Real Estate, LLC for further information!

 

*Statistics are provided by RECOLORADO

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