Mar 03, 2013

January 2013 Denver Housing Report (archived)

Last month, 'average' home prices were up for single family homes, and down for condos.  These monthly price swings don't necessarily suggest that home prices are rising (or dropping), though.  The minor fluctuations do tell us what price range is "hot" in any given month.  

Although home prices in the Denver market continue to climb, prices won't jump dramatically.  Last year, home prices rose approximately 14% for the whole year.

Sales declined during December to about 3400 homes sold.  Although that number is the lowest since last year at this time, it's still strong for December.  As we head into February, inventory levels remain extremely low at about 7700 units.  I expect our inventory to rise substantially, heading into March.  The Spring market is usually the strongest selling season of the year.

If you're a home buyer in 2013, prepare to see strong competition for new listings just as they hit the market.  Just the other day I called to set a showing on a new listing that had only been on the market for 48 hours.  I was informed the house had already received over a dozen offers in just 2 days.   So, hang onto your hats because the next several weeks are going to be brisk while we wait for inventory to catch up with demand!  Now, if the Broncos would have only made it to the Super Bowl, we would definitely had more time for home buyers to be distracted and allow that to happen!  Geez! 

Till next month,

 

Average Home Price & Solds Graphs

 

 

 

 

 

 

Average Home Price, Inventory, & Days-On-The-Market Graphs

 

 

 

Check Out Today's Interest Rates

Today's Interest Rates

 

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Originally posted at: Average Home Price And Trends Report. Data provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu