October 6, 2013
In the Denver MSA, single-family home sales fell 16% from August to September to 4,730 transactions. Despite the month-over-month drop, sales increased 20% year-over-year. Average sales prices also increased 8% year-over-year to $304,958 in September.
On average, for-sale properties spent 39 days on the market, a substantial decrease from last year’s average of 64 days. Kirby Slunaker, president of Metrolist, summarized the data: “Prices are stabilizing, competition for new listings remains, and inventory increases seem to be steadying the local market overall. All of our data points to a healthy market, which leads us to believe we are experiencing a true housing market recovery.”
Read more at Denver Business Journal.