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

 

Posted by Damon L. Chavez on Tuesday, September 20th, 2016 at 8:06am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,725 at month end, 945 homes came onto the market, 710 homes were placed under contract, and 730 homes closed between $500,000 and $749,999 with an average sold price of $593,834 resulting in a closed dollar volume of $433.5 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       1,442                                        283

New Listings                                                     824                                           121

Under Contract                                                 641                                           69

Number Sold                                                     643                                           87

Average Sold Price                                           $594,155                                  $591,467

Closed $ Volume                                               $382.0 Million                         $51.5 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $745,000                                  $740,400

Average Price/Square Foot (Above Ground)       $269                                   $331

Average Price/Square Foot (Total)                     $173                                      $280

Sold Price as % of List Price                              99.50%                                    98.66%

Average Days on Market                                   44                                            147

           

Of the 643 Single Family homes sold, the highest priced closing for the month was $745,000 representing 5 Bedrooms, 4 Bathrooms, and 3,338 above ground square feet.

Of the 87 Condo homes sold, the highest priced closing for the month was $740,400 representing 2 Bedrooms, 2 Bathrooms, and 1,823 above ground square feet.

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

                                                                                       Single Family                          Condo             

 

Number Sold                                                     4,263                (↑22%)                       619                   (↑10%)

Average Sold Price                                           $591,869          (↔)                            $598,980            (↓1%)

Closed $ Volume                                               $2.5 Billion        (↑22%)                  $370.8 Million    (↑9%)

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)                     $170                                              $297

Sold Price as % of List Price                              99.32%             (↔)                        98.88%             (↔)

Average Days on Market                                   56                    (↔)                         122                   (↑14%)

Four Thousand Eight Hundred Eighty Two (4,882) homes closed YTD August 31, 2016 between $500,000 and $749,999 with an average sold price of $592,770 resulting in a closed dollar volume of $2.89 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 – September 7, 2016