Category Archives: Denver

Denver Home Sales Fall as Prices Rise

October 6, 2013
Denver, CO

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.

 

Denver Home Prices at an All-Time High

August 28, 2013
Market: Denver, CO

Single-family home prices in Denver climbed even further in June, rising 9.4% annually to reach a new all-time high. After 18 straight months of year-over-year home price increases, Denver’s prices are 43.37% above January 2000 levels. During the recent recession, prices fell for 36 consecutive months, culminating in February 2009’s annual decrease of 5.7%.

Across the country, June home prices jumped 12.9% year-over-year on average in the 20 metros that S&P/Case-Shiller index tracks. Las Vegas (24.9%), San Francisco (24.5%), and Phoenix (19.8%)—three real estate markets heavily affected by the recession—registered the largest annual increases.

Read more at Denver Business Journal.

 

Denver Single-Family Home Prices and Sales Volume Surging

August 5, 2013
Market: Denver, CO

Metrolist Inc reports that Denver-area single-family home sales in July reached 6,104, a 32% increase year-over-year and a 10% jump month-over-month. Although summer usually has more home sales than any other season, the magnitude of the yearly increase is noteworthy. Denver’s housing inventory in July grew to 10,025, a 9% rise from June and the fourth straight monthly increase. The inventory level remains 7% below where it stood in July 2012.

Meanwhile, according to the S&P/Case-Shiller Home Price Index, homes sold for $315,150 on average in July, marking a 9% year-over-year increase.

Read the full article at Denver Business Journal.

Five HZ Markets Rank in Top 10 for Multifamily Permitting

August 2, 2013
Markets: Houston, Austin, Dallas, Denver, Seattle

Houston permitted 16,410 multifamily units from June 2012 to June 2013, the second-most of any metro, according to Axiometrics, Inc. Houston’s permitting numbers, which trail only New York City, are a 73% increase from a year earlier. In addition to Houston, four of Hamilton Zanze’s markets ranked in the top 10 for multifamily permitting over the last year: Dallas (11,679 units), Austin (11, 483), Denver (8,563), and Seattle (8,434).

Axiometrics reports that nationwide, rents grew 3.5% from their June 2012 levels, and occupancy increased 41 basis points.

Read the full article at GlobeSt.com.

Metro Denver Single-Family Home Prices Rise, Condos Fare Best

Market: Denver, CO
July 18, 2013

Single-family home prices in the Denver MSA continue to rise faster than household incomes, increasing 9% year-over-year to $284,000 during Q2 2013. Consequently, more people are turning to townhomes and condos. Townhomes had the biggest median price increase, rising 13% to $164,000. The days-on-the-market average continued to decline, dropping to 45 days.

The Denver MSA includes Denver, Jefferson, Adams, Arapahoe, Broomfield, and Douglas counties.

Read more at the Denver Business Journal