2013 Record Year For Denver Real Estate

Dated: 01/27/2014

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In terms of the housing market, 2013 was a record-setting year for the Mile High City. A recent report from Metrolist indicated a record 54,024 homes closed in 2013, which is an impressive 17 percent jump from 2012. Additionally, home sales prices were up nearly 10 percent from last year.

Last month 2,807 homes were placed under contract, which is a nine percent drop from the 3,090 in December 2012 and a 22 percent drop from the 3,607 in November. There were 3,229 closings in December, down 5 percent from the 3,400 in December 2012 and down 8 percent from the 3,500 in November. However, slowdowns in the holiday months are typical in the yearly real estate cycle, and experts maintain the year-over-year performance in the Denver market is nothing less than stellar.
2013 didn’t just set records in the number of homes sold in the metro area, but the average home price sales as well. According to Metrolist findings, the average sold price was $310,643 in December, a seven percent jump from the $289,926 for all homes in December 2012 and a 1 percent increase from the $307,134 average sales price in November.
The total sales volume in homes last year was $16.58 billion, a record in non-inflation adjusted dollars. In 2012, there the sales volume was $12.9 billion. The previous record was $14.94 billion in 2005.
According to Metrolist data, single-family detached home sales also broke records in 2013, accounting for 42,762 of the properties sold this year with an average price of $336,381. The previous record for Denver metro single-family detached home sales was 41,682, and was set back in 2004.

Sales of single family attached homes were up 23 percent over 2012, with 11,262 properties sold in the Denver metro area through November.  The average price for a single family attached home in 2013 was $198,220, an impressive 10 percent increase over 2012.

With a lower inventory in 2013, Denver-area homes sold quickly this year.  Metrolist data indicates that overall, active listings were down 16 percent in 2013 from 2012 and properties moved about 25 percent faster this year. This year homes sold after being on the market for an average of only 58 days, compared with an average days on the market of 77 in 2012.
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Carla Winter - Raymond Selix

Ray and Carla have been working as a team since 1995. Carla’s extensive knowledge of the Denver area real estate market not only includes over 35 years as a Real Estate Broker Associate but also in....

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