DENVER – August 8, 2014 – Residential real estate in the Denver metro and surrounding area continues to reflect strong demand, according to Metrolist, Colorado’s largest MLS and the provider of REcolorado.com.
Days on market, or the number of days a home takes to sell, dropped to 26 days—the lowest point in a decade. Although the number of active listings increased seven percent over last month, overall inventory levels are lower than the same period last year, a sign of a sellers’ market. Currently there is a supply of approximately 7 weeks of inventory. “Denver area homes continue to sell at a rapid pace and at almost 100 percent of asking price, a testament to a strong housing market,” said KirbySlunaker, president and CEO ofMetrolist. “Inventory levels remain tight in the Denver metro and surrounding area, showing strong demand and a competitive marketplace.” The pace of home sales cooled slightly in July. The number of new homes that went on the market dropped five percent month over month, and saw a three percent decrease as compared to this time last year. Listings that went under contract decreased four percent month over month, but were up five percent year over year.
In July, average sold prices for single family detached and attached homes continued their steady rise, reaching $335,427, up just slightly over June, and a five percent increase as compared to July 2013.
The condo and townhouse market continued to see increased activity as compared to last summer, as more listings came on the market and prices continued to steadily climb. The number of new listings for condos and townhomes saw a year-over-year increase of 23 percent. Compared to July 2013, sales of condos and townhomes also increased 23 percent, and listings that went under contract increased 30 percent. The average sales price reached $223,834, a 12 percent increase over this time last year.“Homes are continuing to move quickly, some spending just days on the market,” said Slunaker. “Using the innovative tools on REcolorado.com, along with a REALTOR®, will help buyers and sellers know if it is the right time to enter the market.”
Author:Marc Blitstein Phone: 303-330-4058 Dated: August 11th 2014 Views: 1,620 About Marc: Marc Blitstein has been a licensed Real Estate Agent since 2004. Real estate experience has been in ...
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"When I decided to sell my home and look for a new place, my first call was to Jim and Ion Real Estate. He listed my condo and in two short weeks my place was under contract. Now, the real fun began, looking for a new place! The Ion Real Estate website was great. I loved the map function and the emails it sent with new listings that matched my previous searches. On Saturday, Jim and I headed out to look at several places I had picked to see. At the time I didn’t really notice how he listened carefully to everything I said about each place from the lighting to the layout. I was even a little sad that I didn’t find anything that day but Jim reassured me not to worry and a week later he had set up some more appointments. I still remember walking into my new place and just knowing. I had only taken two steps into it and I knew I wanted it.
Next came the easy part for me, but this is where having the right realtor and mortgage broker is essential. They make it seem easy! Jim guided me through all the aspects of my sale and purchase. I appreciated how simple each step seemed from making an offer to dealing with inspections. Even the loan seemed easy. I asked a ton of questions, I think it’s the teacher in me. I wanted to understand all the moving parts. Jim explained everything so clearly that I joked that he missed his calling and should have been a teacher, but he didn’t, I’m glad he is helping people find their homes!
Recently one of my close friends mentioned she wanted to stop renting and buy. I immediately referred her to Ion Real Estate. This time I was able to watch with an outsider perspective at the way Jim cued in on my friend’s preferences. Stephanie kept talking about the charm of old houses, a far cry from the sleek modern condo I chose. By the second house-hunting excursion, Jim knew just which home she would pick. As we walked up to the front porch, I saw Stephanie with the same excitement I had felt just a few months earlier. I watched her mentally move in her furniture and this time I saw the smile that crossed over Jim’s face when he knew Stephanie had found her home.
Throughout both experiences, it was clear Jim understands what people want in their homes and how to structure the entire buying experience to be a positive one. I have heard so many crazy stories from people that didn’t chose the right realtor or mortgage broker. They always start by saying, “I didn’t think a realtor made any difference.” It makes a difference! It made a difference for me and for Stephanie. Owning is better than renting; and, it is even better when Jim and Ion Real Estate are guiding you through the process!