Feb 01, 2017

Average Home Price & 
Metro Denver Market Report

Average Home Price 
& Monthly Housing Report

End of year sales statistics have just been released. They show the average sales price for homes in December was $393,565. That's a decrease from the prior month, but 7% higher than the previous year.

Seasonal low inventory levels coupled with strong year-end demand over surging mortgage rates, pushed our available inventory down to only five weeks. Although that's extremely low, its consistent with what we typically see in December.

After years of double-digit price increases, the average sale price of a detached single family home rose 5% in 2016, to $425,759. The average sale price for a condo/townhome rose 12%, to $308,147. Overall, 2016 ended on another high note for the Denver Metro housing market.

Heading into February, the market appears to be showing signs of prices starting to moderate in certain areas, and inventory levels are beginning to pick up.

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.