November 2016 ~ 7 County Premiere Market Homes Sold Between $500,000 And $749,999

 

Posted by Damon L. Chavez on Monday, November 28th, 2016 at 8:50am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,588 at month end, 685 homes came onto the market, 592 homes were placed under contract, and 620 homes closed between $500,000 and $749,999 with an average sold price of $589,757 resulting in a closed dollar volume of $365.6 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       1,292                                        296

New Listings                                                     557                                           128

Under Contract                                                502                                           90

Number Sold                                                    527                                           93

Average Sold Price                                          $590,339                                  $586,460

Closed $ Volume                                              $311.1 Million                           $54.5 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $749,000

Average Price/Square Foot (Above Ground)    $278                                     $328

Average Price/Square Foot (Total)                 $180                                         $300

Sold Price as % of List Price                            99.09%                                     99.06%

Average Days on Market                                  59                                            86

Of the 527 Single Family homes sold, the highest priced closing for the month was $749,900 representing 3 Bedrooms, 3 Bathrooms, and 2,539 above ground square feet.

Of the 93 Condo homes sold, the highest priced closing for the month was $749,000 representing 3 Bedrooms, 3 Bathrooms, and 1,900 above ground square feet.

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

                                                                        Single Family                          Condo             

Number Sold                                                  5,426                (↑26%)             780                   (↑12%)

Average Sold Price                                        $591,841          (↔)                  $598,429            (↓1%)

Closed $ Volume                                            $3.2 Billion        (↑26%)          $466.8 Million   (↑10%)

Lowest Sold Price                                           $500,000                                  $500,000

Highest Sold Price                                          $749,900                                  $749,000

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

Average Price/Square Foot (Total)                $173                                        $298

Sold Price as % of List Price                           99.20%             (↔)                  98.90%             (↔)

Average Days on Market                                 57                    (↑2%)               118                   (↑11%)

Six Thousand Two Hundred Six (6,206) homes closed YTD October 31, 2016 between $500,000 and $749,999 with an average sold price of $592,669 resulting in a closed dollar volume of $3.678 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 – November 8, 2016