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

 

Posted by Damon L. Chavez on Wednesday, July 13th, 2016 at 6:53am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,623 at month end, 1,174 homes came onto the market, 758 homes were placed under contract, and 801 homes closed between $500,000 and $749,999 with an average sold price of $594,186 resulting in a closed dollar volume of $475.9 Million. 

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                         1,355                                        268

New Listings                                                     1,009                                        165

Under Contract                                                 662                                           96

Number Sold                                                     717                                           84

Average Sold Price                                           $593,716                                  $598,199

Closed $ Volume                                               $425.7 Million                        $50.2 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $741,000

Average Price/Square Foot (Above Ground)       $260                                   $347

Average Price/Square Foot (Total)                     $170                                      $297

Sold Price as % of List Price                              99.74%                                     98.65%

Average Days on Market                                   43                                              98        

Of the 717 Single Family homes sold, the highest priced closing for the month was $749,900 representing 4 Bedrooms, 5 Bathrooms, and 3,054 above ground square feet. 

Of the 84 Condo homes sold, the highest priced closing for the month was $741,000 representing 3 Bedrooms, 4 Bathrooms, and 2,079 above ground square feet.

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

                                                                        Single Family                          Condo             

Number Sold                                                     2,948                (↑19%)             438                   (↑7%)

Average Sold Price                                           $591,312          (↔)                  $599,256            (↔)

Closed $ Volume                                               $1.7 Billion        (↑19%)           $262.5 Million            (↑7%)

Lowest Sold Price                                             $500,000                                    $500,000

Highest Sold Price                                            $749,900                                    $749,000

Average Price/Square Foot (Above Ground)       $261                                    $336

Average Price/Square Foot (Total)                     $169                                         $295

Sold Price as % of List Price                              99.30%             (↔)                  98.93%             (↔)

Average Days on Market                                   61                    (↔)                    122                   (↑9%)

Three Thousand Three Hundred Eighty Six (3,386) homes closed YTD June 30, 2016 between $500,000 and $749,999 with an average sold price of $592,340 resulting in a closed dollar volume of $2.0 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 – July 8, 2016