Looking for a luxury home in Denver? The average selling price for homes over $1m held at $1.58M in October, demonstrating a 1% increase from September, and an increase of 15% year-over-year (Source Denver Post).
If you are looking to purchase in the $1m plus market, click the picture below and contact me for a private tour
Tuesday, November 17, 2015
The real estate market in metro Denver continued its now familiar patterns in October according to data just released. Prices are up. More homes are changing hands.
As reported last month, the inventory of homes available for purchase is also showing some improvement. That trend continued in October. There were 41% more homes on the market at the end of October this year versus the number available at the end of October in 2014. Rising inventory is good news for buyers.
Here’s the summary of current market conditions with just two months left in 2015:
The numbers above are for homes handled by real estate agents through the metro Denver MLS system. We lump all of the single family and multi-family homes sales together to give you a feel for the overall market. We also do 12-month averages for certain stats as it helps show true market trends.
You can see a more extensive breakout between the single family and multi-family segments of the market by clicking on the links at the end of this post.
If you like the look of those reports, we can produce one for you that is specific to your zip code and property type. The market is not uniform. Your part of town may be doing better or worse than the metro-wide averages.
While the trend is undoubtedly upwards, the actual numbers just might give you a little adrenaline rush.
Source - Mike Cooke @ Colorado Home Realty