The Denver area housing market has quickly turned into a seller's market.  Buyers are competing to close on homes and the inventory of homes for sale remains at historically low levels. 

"The average sales price stood at $284,059 in May," reports Dennis Huspeni of The Denver Business Journal, "up 3.2 percent from April and up 10.45 percent year over year."

And homes that are available are moving quickly.  "Just look at what happened in my neighborhood, which has 1,200 homes," said Gary Bauer, a real estate consultant. "Twenty units were put on the market last month and 18 were under contract within a one-week period. That's just a sample of what's been happening in the whole marketplace."

Lower and median priced homes are moving the fastest, according to Metrolist. Below is a graph shwing the percentage of inventory under contract in the front range area by price range.  Acoording to the statistics, homes listed under 300,000 are moving the fastest.

Posted in Denver Colorado Real Estate, Real Estate Market Conditions

Comment on this article

Name

Email
Your email address will not be displayed.

Site/Url
Your URL will be displayed.

Your vote

Poor Excellent

Comment text

Options

  Line breaks become <br />

  Remember me

  Allow users to contact you through a message form.

Captcha

Please enter the characters from the image above. (case insensitive)

Captcha code