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- Updated on August 1, 2017 -
Denver Metro home prices continue their steady climb. The average sale price of a single-family home climbed above $450,000 for the first time on record, reaching another all-time high. During the same period the average sold price of a condo/townhome increased 15%, reaching $334,256.
Thanks in part to the strong economy and unemployment numbers that are the lowest in the nation, we’re seeing more buyers with the ability to purchase homes in the higher price ranges, which is driving up average home sales prices. The number of homes sold in the half million dollar and higher ranges has doubled in just four years.
Although sales of homes slowed a bit last month, they remain consistent with levels we’ve seen the last five years. Throughout the month, 5,611 homes sold, down slightly as compared to last year. At the current sales pace, there are enough listings on the market to last a mere five weeks.
Homes continue to sell quickly across the Denver Metro Area, spending an average of just 27 days on the market, two days less than last month.
Till next month,
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Data for our Average Home Price And Trends Report is provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu
Michael Dagner is an expert in Denver-Area home sales.
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