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Average Home Price &
Metro Denver Market Report
Last month, the Denver Front-Range housing market saw the second-most sales of any November in 26 years. During the month, 4,400 homes sold, 10 percent more than November of last year.
Continued strong demand kept inventory levels low last month, which is holding steady at around 7 weeks. The month ended with 6,767 active listings of homes for sale in the Denver area, down 15 percent as compared to the prior month and three percent lower than November of last year. Additionally, sellers brought fewer new listings to the market in November, approximately 4,055, which is typical of the holiday season.
Home values inched up a bit in November, once again surpassing the $400,000 mark. The average sale price for a single-family home in the Denver Metro area last month was $437,231, up 10% as compared to last year. The average sale price for a condo/townhome was $297,398, a year-over-year increase of 8%.
It's too soon to know whether last months' strong sales were the result of rising interest rates from fence-sitters, or just an unusual late-year surge. More to come soon.
Till next month.
If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other circumstance, please let me know. Call or email. I look forward to helping those you know, because they trust you and appreciate your referral.
Michael Dagner is a real estate professional in Denver, Colorado.
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir