As a first time home buyer, you may think you’ve only got a handful of financing options to choose from when selecting your first property. However, there are actually several options to choose
2013 Record Year For Denver Real Estate
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.
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....
Latest Blog Posts
So you’ve decided to start looking at homes in Denver. You may think the first step is to hop on the MLS and see what’s available, but do you even know how much house you can afford? That’s
While falling mortgage rates have put some energy back into existing home sales, new home purchases are taking a hit. According to Robert Dietz, chief economist at the National Association of