Jul 30, 2014

July 2014 Denver Housing Report

- Originally Posted on July 1, 2014 -

Home prices rose in the Denver-Area again last month, to reach a combined 'average sold price' of $333,995. The averages were up 2.3% for condos to $230,386, and 2.7% for single family homes to $370,412. Although average home prices have risen steadily since March, the percentage rise in appreciation s now slowing.

Inventories remain very tight and buyer demand is still intense, in the lowest price ranges. But, we've actually had more inventory come to market in the past 45 days, than we had this time a year ago. That's progress, so we'll take it.

The recent market gains may sound great to homeowners, but that appreciation is mostly on paper. Denver-area homeowners can't do much with the appreciation unless they sell, other than to borrow more money against their homes. Many don't want to overextend though, because incomes haven't kept pace.

Heading into the second half of 2014, people will return from summer vacations and we'll start to get some signals on what direction the market will move. Either more buyers, more inventory, or some balance. Stay tuned for the next update.

Till next month,

P.S. If you know of someone who needs to sell soon due to an estate, divorce, relocation, or other life change, please don't be shy and call or email me today. I'm always delighted to work with home buyers or sellers who you know, because they trust you and appreciate the recommendation. Thanks!

Average Home Price & Solds Graphs

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

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

Michael Dagner

Michael Dagner is a real estate professional in Denver, Colorado.