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 More good news in the metro Denver
housing market, reports Dennis Huspeni of the Denver Business Journal.
"Metrolist
Inc. released its April data Thursday - and every category showed
year-over year improvement." writes Huspeni.
"Inventory was down, sales were
up, average sales price was up and the number of pending contracts increased in
double digits."
Pending Contracts
are up 3 percent from March and 25 percent year over year. There were 5,681 homes put under contract in
April 2012 which is a rise of 20 percent from last April and up 7 percent from
March of this year.
Inventory of homes
and condos for sale declined 37 percent from last year.
Average Days on the
Market fell to 90 days in April down 13 percent from March and 20 percent
from last year.
Average Sales Price
is up 6 percent from March to $275,241, compared to $259,422 last April.
Sales volume
increased 12 percent in March and 14 percent in April, year over year. Denver has become a hot market. Demand for
lower priced homes (below $250,000) has forced their prices up at least
10 percent, year over year, and buyers are making multiple offers and offering
more than the list price in some cases.
"However, many buyers
are getting burned out." writes Huspeni. "(They) don't want to participate in a
bidding war." Some are choosing to just drop out because they can't find what
they are looking for and they don't like the pressure.
Cash offers are up, reports Huspeni, but the "move-up"
market is not really big right now. The
majority of buyers are relocating to Denver or are first time buyers looking to
get in on the market.
Read
the full story at Denver Business Journal.
Posted on May 07, 2012 12:35:49 by  IPTV.Boyz
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