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

 

Posted by Damon L. Chavez on Tuesday, May 30th, 2017 at 10:19am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,413 at month end, 1,161 homes came onto the market, 886 homes were placed under contract, and 792 homes closed between $500,000 and $749,999 with an average sold price of $589,208 resulting in a closed dollar volume of $466.7 Million.

Monthly Market Recap:

                                                                          Single Family                          Condo

Active Listings at Month End                        1,146                                        267

New Listings                                                     1,001                                        160

Under Contract                                                 773                                           113

Number Sold                                                     702                                           90

Average Sold Price                                           $589,810                                 $584,510

Closed $ Volume                                               $414.0 Million                       $52.6 Million

Lowest Sold Price                                             $500,000                                 $500,000

Highest Sold Price                                            $749,900                                  $749,900

Average Price/Square Foot (Above Ground)  $277                                      $350

Average Price/Square Foot (Total)                   $179                                      $305

Sold Price as % of List Price                              99.63%                                  99.23%

Average Days on Market                                   48                                            135       

Of the 702 Single Family homes sold, the highest priced closing for the month was $749,900 representing 8 Bedrooms, 7 Bathrooms, and 4,183 above ground square feet. 

Of the 90 Condo homes sold, the highest priced closing for the month was $749,900 representing 3 Bedrooms, 4 Bathrooms, and 2,307 above ground square feet. 

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

                                                                            Single Family                             Condo             

Number Sold                                                     2,096                (↑33%)                 336                   (↑28%)

Average Sold Price                                           $587,607          (↓1%)                   $595,954          (↓1%)

Closed $ Volume                                               $1.2 Billion       (↑32%)               $200.2 Million  (↑27%)

Lowest Sold Price                                             $500,000                                       $500,000

Highest Sold Price                                            $749,900                                       $749,900

Average Price/Square Foot (Above Ground)    $269                                         $348

Average Price/Square Foot (Total)                     $174                                         $309

Sold Price as % of List Price                                99.29%             (↔)                  99.08%             (↔)

Average Days on Market                                       61                    (↓15%)             114                   (↓21%)

Two Thousand Four Hundred Thirty Two (2,432) homes closed YTD April 30, 2017 between $500,000 and $749,999 with an average sold price of $588,760 resulting in a closed dollar volume of $1.4 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 – May 6, 2017