September 2017 ~ 7 County Premiere Market Homes Sold Between $500,000 And $749,999

 

Posted by Damon L. Chavez on Tuesday, September 19th, 2017 at 8:47am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,830 at month end, 1,050 homes came onto the market, 817 homes were placed under contract, and 874 homes closed between $500,000 and $749,999 with an average sold price of $590,131 resulting in a closed dollar volume of $515.8 Million.

Monthly Market Recap:

                                                                           Single Family                          Condo

Active Listings at Month End                        1,470                                        360

New Listings                                                     897                                           153

Under Contract                                                 738                                           79

Number Sold                                                     771                                           103

Average Sold Price                                           $589,548                                  $594,495

Closed $ Volume                                               $454.5 Million                        $61.2 Million

Lowest Sold Price                                             $500,000                                  $503,500

Highest Sold Price                                            $749,000                                  $740,000

Average Price/Square Foot (Above Ground)     $275                                  $345

Average Price/Square Foot (Total)                     $179                                    $302

Sold Price as % of List Price                                 99.33%                               99.72%

Average Days on Market                                       37                                        194          

Of the 771 Single Family homes sold, the highest priced closing for the month was $749,000 representing 6 Bedrooms, 4 Bathrooms, and 3,231 above ground square feet. 

Of the 103 Condo homes sold, the highest priced closing for the month was $740,000 representing 3 Bedrooms, 4 Bathrooms, and 2,341 above ground square feet.

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

                                                                            Single Family                          Condo             

 Number Sold                                                         5,469              (↑28%)                    777              (↑25%)

Average Sold Price                                          $588,611      (↓1%)                   $597,223   (↔)

Closed $ Volume                                              $3.2 Billion  (↑27%)                $464.0 Million      (↑25%)

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $749,900

Average Price/Square Foot (Above Ground)   $273                                     $350

Average Price/Square Foot (Total)                     $180                                     $307

Sold Price as % of List Price                                99.40%        (↔)                  99.27%         (↔)

Average Days on Market                                      46                (↓18%)            148                (↑21%)

 Six Thousand Two Hundred Forty Six (6,246) homes closed YTD August 31, 2017 between $500,000 and $749,999 with an average sold price of $589,682 resulting in a closed dollar volume of $3.68 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 – September 8, 2017