June 2017 ~ 7 County Premiere Market Homes Sold Between $500,000 And $749,999

Posted by Damon L. Chavez on Tuesday, June 27th, 2017 at 2:45pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,549 at month end, 1,311 homes came onto the market, 984 homes were placed under contract, and 920 homes closed between $500,000 and $749,999 with an average sold price of $587,544 resulting in a closed dollar volume of $540.5 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                        1,273                                        276

New Listings                                                     1,159                                        152

Under Contract                                                 873                                           111

Number Sold                                                     806                                           114

Average Sold Price                                           $586,507                                  $594,876

Closed $ Volume                                               $472.7 Million                           $67.8 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,000                                  $739,484

Average Price/Square Foot (Above Ground)  $276                                      $352

Average Price/Square Foot (Total)                   $179                                      $300

Sold Price as % of List Price                              99.76%                                  99.41%

Average Days on Market                                    40                                           175         

Of the 806 Single Family homes sold, the highest priced closing for the month was $749,000 representing 6 Bedrooms, 6 Bathrooms, and 3,235 above ground square feet.

Of the 114 Condo homes sold, the highest priced closing for the month was $739,484 representing 2 Bedrooms, 4 Bathrooms, and 1,810 above ground square feet.

Year-to-Date Market Recap with Year Over Year % Comparisons:

                                                                            Single Family                          Condo             

Number Sold                                                     2,913                (↑30%)             451                   (↑27%)

Average Sold Price                                           $587,292          (↓1%)               $595,496         (↓1%)

Closed $ Volume                                               $1.7 Billion      (↑29%)            $268.6 Million  (↑26%)

Lowest Sold Price                                             $500,000                                    $500,000

Highest Sold Price                                            $749,900                                    $749,900

Average Price/Square Foot (Above Ground)    $271                                      $349

Average Price/Square Foot (Total)                     $175                                       $306

Sold Price as % of List Price                                99.42%          (↔)                  99.17%             (↔)

Average Days on Market                                     55                  (↓19%)             131                   (↑2%) 

Three Thousand Three Hundred Sixty Four (3,364) homes closed YTD May 31, 2017 between $500,000 and $749,999 with an average sold price of $588,392 resulting in a closed dollar volume of $1.979 Billion.

The above representation covers a seven (7) county area including the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.

The above representation may or may not reflect all real estate activity in the market.

Source of the data:  REcolorado.com – June 4, 2017