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

 

Posted by Damon L. Chavez on Wednesday, June 1st, 2016 at 8:47am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,295 at month end, 1,011 homes came onto the market, 758 homes were placed under contract, and 603 homes closed between $500,000 and $749,999 with an average sold price of $595,502 resulting in a closed dollar volume of $359.1 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                              1,046                                      249

New Listings                                                     875                                          136

Under Contract                                                 671                                           87

Number Sold                                                     519                                           84

Average Sold Price                                           $595,603                                  $594,876

Closed $ Volume                                               $309.1 Million                         $49.9 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $749,000

Average Price/Square Foot (Above Ground)       $264                                         $327

Average Price/Square Foot (Total)                     $172                                         $290

Sold Price as % of List Price                              99.71%                                       99.48%

Average Days on Market                                   57                                             139

Of the 519 Single Family homes sold, the highest priced closing for the month was $749,900 representing 2 Bedrooms, 3 Baths, and 2,286 above ground square feet.

Of the 84 Condo homes sold, the highest priced closing for the month was $749,000 representing 4 Bedrooms, 4 Bathrooms, and 2,901 above ground square feet.

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

                                                                          Single Family                          Condo             

Number Sold                                                     1,552                (↑19%)             262                   (↑13%)

Average Sold Price                                           $591,509          (↔)                  $599,605           (↑1%)

Closed $ Volume                                               $918.0 Million   (↑19%)            $157.1 Million   (↑14%)

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $749,000

Average Price/Square Foot (Above Ground)       $259                                        $335

Average Price/Square Foot (Total)                     $167                                        $297

Sold Price as % of List Price                              98.97%             (↔)                   98.99%             (↔)

Average Days on Market                                   69                    (↓4%)                144                 (↑9%)

One Thousand Eight Hundred Fourteen (1,814) homes closed YTD April 30, 2016 between $500,000 and $749,999 with an average sold price of $592,679 resulting in a closed dollar volume of $1.1 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 – May 6, 2016