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

 

Posted by Damon L. Chavez on Monday, April 18th, 2016 at 9:40am.

METROPOLITAN DENVER

7 COUNTY PREMIERE MARKET

HOMES SOLD BETWEEN $500,000 AND $749,999

 

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,166 at month end, 934 homes came onto the market, 680 homes were placed under contract, and 583 homes closed between $500,000 and $749,999 with an average sold price of $590,283 resulting in a closed dollar volume of $344.1 Million.

 

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       941                                           225

New Listings                                                     781                                           153

Under Contract                                                 587                                           93

Number Sold                                                     495                                           88

Average Sold Price                                           $588,954                                  $597,759

Closed $ Volume                                               $291.5 Million                           $52.6 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,000                                  $745,000

Average Price/Square Foot (Above Ground)       $262                                         $332

Average Price/Square Foot (Total)                     $169                                         $292

Sold Price as % of List Price                              98.91%                                     99.14%

Average Days on Market                                   68                                            144

Of the 495 Single Family homes sold, the highest priced closing for the month was $749,000 representing 4 Bedrooms, 4 Baths, and 4,514 above ground square feet.

Of the 88 Condo homes sold, the highest priced closing for the month was $745,000 representing 4 Bedrooms, 4 Bathrooms, and 2,377 above ground square feet.

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

                                                                         Single Family                               Condo             

 

Number Sold                                                     1,025                (↑21%)                 177                            (↑1%)

Average Sold Price                                           $589,566            (↔)                    $601,876                   (↑1%)

Closed $ Volume                                               $604.3 Million   (↑21%)             $106.5 Million            (↑3%)

Lowest Sold Price                                             $500,000                                       $500,000

Highest Sold Price                                            $749,000                                       $749,000

Average Price/Square Foot (Above Ground)       $258                                      $338

Average Price/Square Foot (Total)                     $165                                          $301

Sold Price as % of List Price                              98.59%               (↔)                  98.76%             (↔)

Average Days on Market                                   75                     (↓9%)                  146                   (↑1%)

One Thousand Two Hundred Two (1,202) homes closed YTD March 31, 2016 between $500,000 and $749,999 with an average sold price of $591,379 resulting in a closed dollar volume of $710.8 Million.

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 – April 6, 2016