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

 

Posted by Damon L. Chavez on Sunday, July 3rd, 2016 at 9:44am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,386 at month end, 1,068 homes came onto the market, 813 homes were placed under contract, and 732 homes closed between $500,000 and $749,999 with an average sold price of $590,306 resulting in a closed dollar volume of $432.1 Million.

Monthly Market Recap:

.                                                                                     Single Family                          Condo

Active Listings at Month End                                1,137                                        249

New Listings                                                             952                                           116

Under Contract                                                         730                                           83

Number Sold                                                             644                                           88

Average Sold Price                                                   $589,424                                  $596,762

Closed $ Volume                                                      $379.6 Million                           $52.5 Million

Lowest Sold Price                                                     $500,000                                  $500,000

Highest Sold Price                                                    $748,000                                  $735,000

Average Price/Square Foot (Above Ground)       $267                                         $329

Average Price/Square Foot (Total)                         $174                                         $288

Sold Price as % of List Price                                    99.61%                                     98.90%

Average Days on Market                                          55                                            77          

Of the 644 Single Family homes sold, the highest priced closing for the month was $748,000 representing 3 Bedrooms, 2 Baths, and 1,304 above ground square feet.

Of the 88 Condo homes sold, the highest priced closing for the month was $735,000 representing 3 Bedrooms, 4 Bathrooms, and 3,135 above ground square feet.

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

                                                                                        Single Family                                     Condo             

Number Sold                                                                   2,209                (↑20%)                      350                   (↑12%)

Average Sold Price                                                 $590,826          (↔)                       $598,891            (↔)

Closed $ Volume                                                     $1.3 Billion        (↑20%)               $209.6 Million            (↑12%)

Lowest Sold Price                                                     $500,000                                      $500,000

Highest Sold Price                                                   $749,900                                      $749,000

Average Price/Square Foot (Above Ground)       $261                                              $333

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

Sold Price as % of List Price                                  99.15%             (↔)                       98.97%             (↔)

Average Days on Market                                       66                    (↔)                        127                   (↔) 

Two Thousand Five Hundred Fifty Nine (2,559) homes closed YTD May 31, 2016 between $500,000 and $749,999 with an average sold price of $591,929 resulting in a closed dollar volume of $1.5 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 – June 4, 2016