Market Maintains Carbon Copy Performance

We realize that calling something a “carbon copy” is a bit archaic. Some of us actually remember using carbon paper, probably when typing term papers for college, so that we’d have a duplicate of it after we turned it in. Others have never even seen the flimsy film of black paper that was made obsolete by photocopiers and computers because, thankfully, you didn’t live back in the dark ages of 8-track tape players and disco balls!

Either way, we suppose everyone knows that a “carbon copy” is when two things look identical. That pretty well sums up the real estate market in Denver and its surrounding communities through April of this year. It’s like someone hit “Replay”.

Every month when we run the numbers on what is going on with the market, we see the same things as a year ago:

• • We have a similar number of closed transactions. Some months there are a few more than the same month last year and some months there are a few less. Overall, however, the number of homes that have changed hands in the first four months of the year is very comparable to the January thru April time frame last year.

• • We have a similar number of properties available for sale. April is a great example of this. We ended the month with just 23 more properties available for purchase than we experienced at the end of April in 2015.

• • Prices continue to climb at right around the 10% mark for the market as a whole. Single family home prices are increasing at around 8% annually while the prices of multi-family properties are seeing a 12% annual increase.

Here’s the summary of market performance this April compared to April of 2015:

The stats above are for sales activity in Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson counties. It includes homes sales handled by real estate agents though Metrolist/REColorado®, Inc., the MLS system serving the metro Denver area.

You can see a more extensive breakout between the single family and multi-family segments of the market by clicking on the links at the end of this post. Be sure to take a peek.

If you like the look of those reports, we can produce one for you that is specific to your zip code and property type. The market is not uniform. Your part of town may be doing better or worse than the metro-wide averages.

Single Family Homes April 2016
Multi-Family Homes April 2016