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

 

Posted by Damon L. Chavez on Friday, October 21st, 2016 at 8:23am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,730 at month end, 868 homes came onto the market, 641 homes were placed under contract, and 609 homes closed between $500,000 and $749,999 with an average sold price of $595,468 resulting in a closed dollar volume of $362.6 Million. 

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                      1,425                                        305

New Listings                                                     727                                           141

Under Contract                                                 549                                           92

Number Sold                                                     548                                           61

Average Sold Price                                           $594,082                                  $607,922

Closed $ Volume                                               $325.6 Million                        $37.1 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,000                                  $744,500

Average Price/Square Foot (Above Ground)       $265                                 $339

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

Sold Price as % of List Price                              98.88%                                   98.88%

Average Days on Market                                   53                                            137           

Of the 548 Single Family homes sold, the highest priced closing for the month was $749,000 representing 5 Bedrooms, 6 Bathrooms, and 3,350 above ground square feet.

Of the 61 Condo homes sold, the highest priced closing for the month was $744,500 representing 3 Bedrooms, 4 Bathrooms, and 1,972 above ground square feet.

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

                                                                        Single Family                              Condo             

Number Sold                                                     4,823                (↑23%)                        682                   (↑6%)

Average Sold Price                                      $592,114          (↔)                       $599,847            (↓1%)

Closed $ Volume                                          $2.9 Billion        (↑24%)               $409.1 Million            (↑5%)

Lowest Sold Price                                             $500,000                                   $500,000

Highest Sold Price                                            $749,900                                    $749,000

Average Price/Square Foot (Above Ground)       $263                                   $338

Average Price/Square Foot (Total)                     $171                                       $298

Sold Price as % of List Price                              99.26%             (↔)                  98.88%             (↔)

Average Days on Market                                   56                    (↔)                    123                   (↑16%)

Five Thousand Five Hundred Five (5,505) homes closed YTD September 30, 2016 between $500,000 and $749,999 with an average sold price of $593,062 resulting in a closed dollar volume of $3.26 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 – October 1, 2016