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

 

Posted by Damon L. Chavez on Friday, March 24th, 2017 at 8:46am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,019 at month end, 765 homes came onto the market, 714 homes were placed under contract, and 462 homes closed between $500,000 and $749,999 with an average sold price of $588,865 resulting in a closed dollar volume of $272.1 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                        802                                           217

New Listings                                                     655                                           110

Under Contract                                                 605                                           109

Number Sold                                                     389                                           73

Average Sold Price                                           $588,241                                  $592,190

Closed $ Volume                                               $228.8 Million                        $43.2 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $747,500                                  $744,000

Average Price/Square Foot (Above Ground)   $272                                     $347

Average Price/Square Foot (Total)                     $177                                    $318

Sold Price as % of List Price                                99.20%                               99.23%

Average Days on Market                                     65                                         142           

Of the 389 Single Family homes sold, the highest priced closing for the month was $747,500 representing 4 Bedrooms, 3 Bathrooms, and 1,993 above ground square feet.

Of the 73 Condo homes sold, the highest priced closing for the month was $744,000 representing 3 Bedrooms, 4 Bathrooms, and 2,382 above ground square feet.

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

                                                                              Single Family                          Condo             

Number Sold                                                     720                   (↑35%)             138                   (↑55%)

Average Sold Price                                           $587,736          (↔)                  $594,837          (↓2%)

Closed $ Volume                                               $423.2 Million   (↑34%)         $82.1 Million     (↑52%)

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $744,000

Average Price/Square Foot (Above Ground)   $265                                         $352

Average Price/Square Foot (Total)                     $173                                         $318

Sold Price as % of List Price                                 98.80%         (↑1%)                 99.14%             (↑1%)

Average Days on Market                                       71                  (↓13%)              107                   (↓28%)

Eight Hundred Fifty Eight (858) homes closed YTD February 28, 2017 between $500,000 and $749,999 with an average sold price of $588,878 resulting in a closed dollar volume of $505.3 Million.

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 – March 4, 2017