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

 

Posted by Damon L. Chavez on Tuesday, January 17th, 2017 at 8:50am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,084 at month end, 342 homes came onto the market, 372 homes were placed under contract, and 527 homes closed between $500,000 and $749,999 with an average sold price of $593,684 resulting in a closed dollar volume of $312.9 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       845                                           239

New Listings                                                    285                                            57

Under Contract                                               313                                            59

Number Sold                                                   444                                            83

Average Sold Price                                         $592,200                                  $601,621

Closed $ Volume                                             $262.9 Million                        $49.9 Million

Lowest Sold Price                                           $500,000                                  $500,000

Highest Sold Price                                          $749,927                                  $749,900

Average Price/Square Foot (Above Ground)    $273                                   $349

Average Price/Square Foot (Total)               $178                                         $301

Sold Price as % of List Price                          98.54%                                     98.78%

Average Days on Market                                 87                                            107

Of the 444 Single Family homes sold, the highest priced closing for the month was $749,927 representing 3 Bedrooms, 3 Bathrooms, and 2,587 above ground square feet.

Of the 83 Condo homes sold, the highest priced closing for the month was $749,900 representing 3 Bedrooms, 3 Bathrooms, and 2,257 above ground square feet.

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

                                                                             Single Family                               Condo         

Number Sold                                                  6,347                (↑27%)             960                   (↑14%)

Average Sold Price                                        $592,137          (↔)                  $598,424           (↓1%)

Closed $ Volume                                            $3.8 Billion     (↑27%)             $574.5 Million  (↑13%)

Lowest Sold Price                                           $500,000                                  $500,000

Highest Sold Price                                          $749,900                                  $749,900

Average Price/Square Foot (Above Ground)   $263                                    $337

Average Price/Square Foot (Total)                     $173                                    $312

Sold Price as % of List Price                                99.10%          (↔)                98.90%           (↔)

Average Days on Market                                     60                 (↑2%)              115                 (↑6%)

Seven Thousand Three Hundred Seven (7,307) homes closed YTD December 31, 2016 between $500,000 and $749,999 with an average sold price of $592,963 resulting in a closed dollar volume of $4.3 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 – January 6, 2017