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Denver Metro Real Estate Market Off to Strong Start in 2014

In Denver Real Estate, Market News | on February, 14, 2014 | by | 0 Comments

DENVER – Feb. 11, 2014 – Average Denver Metro home prices remained steady in January, signaling a strong 2014 for area real estate, according to Metrolist®, Colorado’s largest multiple listing service (MLS), which powers REcolorado.com, a free resource for Colorado home buyers, sellers and owners.

The average sold price for new and existing homes in January—$302, 251—was down 3 percent compared to December but up 10 percent year over year. January saw a slight increase in the number of homes for sale, with active listings increasing 5 percent month over month and 7 percent year over year, but available inventory remains tight. Among properties sold in January, the average listing spent just 61 days on the market, a 22 percent decrease year over year.  The number of homes sold in January increased 3 percent, from 3,229 to 3,342.

With an average sold price of $206,503 for January, the single family attached market shows strong price stability. The top end of the single family detached market continues to be very active, driving the median sold price up 12 percent over last year, with the average sold price rising by more than 21 percent year over year.

The numbers in the single family detached market are equally strong. The average price of the 1,901 homes sold in January was $331,198, down just 2 percent compared to December and up 10 percent over last year.

“We are optimistic about the 2014 real estate landscape,” said Kirby Slunaker, CEO and President of Metrolist, Inc. “We’d advise any consumers who are planning on entering the market for a new home later this year to start looking early.”

Metrolist’s recently updated REcolorado.com offers tools and data to prospective buyers in the Denver Metro area, with local home listings that are updated every 15 minutes. 

“REcolorado.com makes it very easy for house hunters to access the most up-to-date inventory and proactively monitor listings,” Slunaker said. “This new site gives consumers a more complete, timely view of what’s happening in our market. Nearly real-time updates and alerts help add functionality and supports collaboration between consumers and their Real estate professionals here in Colorado.”

Courtesy of Denver Metrolist. 

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