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

 

Posted by Damon L. Chavez on Tuesday, August 30th, 2016 at 1:49pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,743 at month end, 1,009 homes came onto the market, 689 homes were placed under contract, and 721 homes closed between $500,000 and $749,999 with an average sold price of $595,101 resulting in a closed dollar volume of $429.1 Million.

Monthly Market Recap:

.                                                                       Single Family                              Condo

Active Listings at Month End                       1,475                                        268

New Listings                                                     886                                           123

Under Contract                                                 607                                           82

Number Sold                                                     632                                           89

Average Sold Price                                           $593,629                                  $605,552

Closed $ Volume                                               $375.2 Million                        $53.9 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $742,000

Average Price/Square Foot (Above Ground)       $270                                  $351

Average Price/Square Foot (Total)                     $174                                     $315

Sold Price as % of List Price                              99.29%                                   98.81%

Average Days on Market                                   40                                            79        

Of the 632 Single Family homes sold, the highest priced closing for the month was $749,900 representing 5 Bedrooms, 5 Bathrooms, and 3,107 above ground square feet.

Of the 89 Condo homes sold, the highest priced closing for the month was $742,000 representing 2 Bedrooms, 2 Bathrooms, and 1,918 above ground square feet.

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

                                                                            Single Family                          Condo             

Number Sold                                                     3,602                (↑19%)              530                   (↑7%)

Average Sold Price                                           $591,604          (↔)                   $600,238            (↓1%)

Closed $ Volume                                               $2.1 Billion        (↑19%)            $318.1 Million            (↑7%)

Lowest Sold Price                                             $500,000                                     $500,000

Highest Sold Price                                            $749,900                                     $749,000

Average Price/Square Foot (Above Ground)       $262                                    $338

Average Price/Square Foot (Total)                     $170                                        $299

Sold Price as % of List Price                              99.29%             (↔)                   98.91%             (↔)

Average Days on Market                                   58                    (↔)                     115                   (↑12%)

Four Thousand One Hundred Thirty Two (4,132) homes closed YTD July 31, 2016 between $500,000 and $749,999 with an average sold price of $592,711 resulting in a closed dollar volume of $2.45 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 – August 4, 2016