It was a crazy summer, but the season is winding down as winter sets in. Madison president, Justin Knoll, recaps the quarter below. You can read the full report here.
“Denver’s red-hot real estate market exploded with a flurry of new listings and active inventory. In June, for the entire residential market (single family and condos), there was a 24.40% increase in active listings and 12.17%increase in new listings compared to the month prior. Year over year, active listings increased 9.67% and new listings increased 6.79%.”
– Anthony Rael, Chairman of the DMAR Market Trends Committee
Here are your monthly stats from the Denver Metro Association of Realtors.
By the numbers, for the entire residential market (single-family and condos), April closed out with 5,221 active listings – representing a 16.5 percent increase in inventory over the previous month and four percent over the previous year. Month over month, new listings are up 12 percent to 6,387, homes under contract are up nine percent to 5,153, and homes sold and closed are up one percent to 4,312. Average and median sold prices of homes edged up again from the previous month with smaller gains of two percent to $398,663 and 1.45 percent to $350,000 respectively. Total sales volume in the residential market year to date was approximately $5.7 billion, up 9.5 percent compared to 2015.
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