Jul 01, 2016

Average Home Price 
& Monthly Housing Report

Denver-area home prices reached another high for 2016.  Single-Family prices were up 3% for the month, 4.5% for condos, and approximately 9% overall compared to last year. The average sale price of a single family home climbed to $444,441, which is about 8% higher than a year ago. Condos and townhouses were up approx 14% over last year.

After dipping slightly last fall, home prices have continued to grow at a moderate pace through the Spring. Although 7,285 new listings hit the market in the last 30 days, robust demand kept inventory levels from rising.  At the beginning of last month, there were 6,565 available homes for sale in the Denver Metro area, seven percent more than the prior month, but five percent less than a year ago.

The supply of housing inventory in the greater Denver Metro Area remains at less than 2 months.  Homes continue to sell quickly, with an average of just 24 days on the market.

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. 

Average Home Price & Solds Graphs

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

Michael Dagner

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