The Denver metro area real estate market saw all-time highs in 2013 for both home sales and average price, according to Metrolist®, Colorado’s largest multiple listing service (MLS).
As of Dec. 31, 2013, 54,024 residential homes had sold in the Denver metro area, a 17 % increase over 2012, and the average sales price was $306,910, an increase of 10 %, year over year.
Single family detached home sales broke records, accounting for 42,762 of the properties sold in 2013 and netted an average price of $336,381. The previous record for Denver metro Single family detached home sales was 41,682, set in 2004. Sales of single family attached homes were up 23 % over 2012, with 11,262 properties sold in the Denver metro area through November. The average price for a single family attached home in 2013 was $198,220, a 10 % increase over 2012.
Strong demand and low inventory helped drive the record-setting sales and prices. Active listings for 2013 were down 16% compared to 2012. As a result, residential properties spent an average of just 58 days on the market in 2013, compared to 77 days in 2012.
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The Denver metro area real estate market remained strong through December, with single family detached residential properties selling for an average price of $336,857 in the 11 Denver counties. Inventory remained tight through the holidays, with properties averaging 57 days on the market, down 22 % from December 2012.
“Our brokers and agents have seen a very busy year with a record-setting selling season,” said Kirby Slunaker, CEO and President of Metrolist Inc. “While the market has cooled slightly at year-end, as one would expect, the numbers year over year are incredible.”
About Metrolist
Metrolist is the largest MLS in the state of Colorado, supporting the largest network of Realtors® with the most comprehensive database of real property listings throughout the Front Range. Realtor-owned since 1984, Metrolist provides leading technology solutions to real estate agents and brokers to better serve buyers and sellers.
Courtesy of Metrolist, published on 1/8/2014
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