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

 

Posted by Damon L. Chavez on Friday, August 25th, 2017 at 8:15am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,858 at month end, 1,183 homes came onto the market, 810 homes were placed under contract, and 877 homes closed between $500,000 and $749,999 with an average sold price of $591,391 resulting in a closed dollar volume of $518.6 Million.

 Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       1,536                                        322

New Listings                                                     1,024                                        159

Under Contract                                                 724                                           86

Number Sold                                                     781                                           96

Average Sold Price                                           $591,296                                  $592,163

Closed $ Volume                                               $461.8 Million                        $56.8 Million

Lowest Sold Price                                             $500,000                                  $500,000

Highest Sold Price                                            $749,900                                  $740,000

Average Price/Square Foot (Above Ground)    $280                                     $351

Average Price/Square Foot (Total)                  $182                                         $306

Sold Price as % of List Price                              99.54%                                    99.34%

Average Days on Market                                   35                                            161

Of the 781 Single Family homes sold, the highest priced closing for the month was $749,900 representing 4 Bedrooms, 3 Bathrooms, and 3,374 above ground square feet.

Of the 96 Condo homes sold, the highest priced closing for the month was $740,000 representing 3 Bedrooms, 4 Bathrooms, and 2,492 above ground square feet. 

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

                                                                         Single Family                             Condo              

Number Sold                                                     4,667                (↑29%)                 672                   (↑26%)

Average Sold Price                                           $588,431          (↓1%)                   $597,485         (↔)

Closed $ Volume                                               $2.7 Billion      (↑28%)                 $401.5 Million    (↑26%)

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)                     $177                                          $308

Sold Price as % of List Price                                 99.48%        (↔)                      99.20%             (↔)

Average Days on Market                                       47                (↓19%)                141                   (↑19%)

Five Thousand Three Hundred Thirty Nine (5,339) homes closed YTD July 31, 2017 between $500,000 and $749,999 with an average sold price of $589,589 resulting in a closed dollar volume of $3.15 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 – August 5, 2017