Denver Area Housing Inventory Tight in November, Prices Remain Strong
DENVER – December 5, 2014 –According to Metrolist, Colorado’s largest MLS and the provider of REcolorado.com, limited supplies of housing inventory did not constrain Denver area residential home sales in November. Sales remained strong year over year and home prices increased once again.
In November, 6,566 active listings were on the market in the Denver metro and surrounding area, an 18 percent decrease as compared to last month, and a 27 percent year-over-year decrease. These numbers reflect inventory levels roughly half of what they were just three years ago.
“Tight inventories that have been seen in the Denver area housing market for some time now showed no signs of easing in November,” said Kirby Slunaker, president and CEO of Metrolist. “The slowing in monthly home sales is likely due to market seasonality. Even with the month-over-month inventory declines, demand remains steady, which continues to drive sales.”
For the second consecutive month, November brought an increase in the average sales price for single family homes. The average sold price in November was $329,306, up two percent from last month and a nine percent increase year over year.
About REcolorado/Metrolist
Buyers and sellers can get free access to up-to-the-minute housing information throughout the state of Colorado at REcolorado.com. The website offers advanced search features and filters for price and location, as well as home values and scheduled open houses. This comprehensive local resource enables both buyers and sellers to enter the housing market well informed.
REcolorado.com is powered by Metrolist, the largest MLS in the state of Colorado, supporting the largest network of REALTORS® with the most comprehensive database of real property listings throughout Colorado. REALTOR-owned since 1984, Metrolist provides leading technology solutions to real estate agents and brokers to better serve buyers and sellers. For more information, visit www.REcolorado.com
