The Denver real estate market continues to show year over-year momentum as the number of single-family homes sold in February increased by 11.75% from the previous February. While month-over-month comparisons were down by a mere .75%, additional indicators — such as decreasing days on market –showed noticeable improvements in both year-over-year and month-over-month categories.
Denver condo/townhome sales also improved during the same time frame by 12.6% with a month-over-month increase of 8.39%. The average days on market decreased from February of 2011 by 21.71%. Condo/townhome average prices increased by 21.71% from a year ago, to the $161,143.
Denver Residential Statistics by Price Point:
This price band chart captures where the activity is occurring. When priced properly, the under $299,999 sector is moving quickly. This movement, combined with the ridiculously low inventory (down 41.89% in combined condos and single family homes from a year ago) make it an opportune time to sell a property in this price point.
Please feel free to contact me with any questions on the Denver (or suburban) real estate market.
Michelle Potter, Realtor in Denver
5280 Magazine "5 Star Denver Real Estate Agent"