Metro Denver Home Sales Like Old Faithful

Old Faithful in Yellowstone National Park is emblematic of something that happens predictably and reliably.

That world-renowned geyser in Wyoming is a good metaphor for the metro Denver real estate market over the last couple years. The summary of market activity every month has been following a very predictable pattern: Rising prices with an increasing number of homes being sold in spite of a relatively low number of homes on the market at any one time.

Here’s a brief summary at the halfway point in 2015:

The numbers above, as they are every month on this blog, are for homes handled by real estate agents through the metro Denver MLS system. We lump all of the single family and multi-family homes sales together to give you a feel for the overall market. We also do 12-month averages for certain stats as it helps show true trends. These are a couple reasons why average sale price numbers above may look a bit lower than what you see quoted elsewhere.

So, for example, the average sale price of single-family homes closed in June was $414,227 and multi-family homes closed in June went for $259,735 on average.

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. While the trend is undoubtedly upwards, the actual numbers just might give you a little adrenaline rush.

• • Single Family Homes June 2015

• Multi Family Homes June 2015