Stats. Like A Summer Weather Forecast

You know how things are for weathermen in the Denver area during the summer months? That’s right — the forecast is pretty much the same from one day to the next: Clear in the morning with a 20% chance of thunderstorms in the afternoon. Highs in the upper 80s. Skies clearing at night. It’s a bit of a broken record.

The same applies to news on the real estate market in the Denver area these days. We’re repeating ourselves. The trends we’ve been reporting for many months continue. Prices are up. The number of closed transactions is steady. Inventory is low.

A brief summary based on data through the end of February* is as follows:

The average price of all homes closed in February was $342,896. This is a 16.75% increase from the average sales price in February a year ago.

Based on the 12-month moving average, home sale prices are up 7.75% over the last year. The 12-month moving average is a better measure of true price trends, as it averages out month-to-month fluctuations that may be skewed either high or low.

Activity remains strong as shown by the number of closed transactions. There were 3,183 closed transactions this February versus 3,151 closed deals in February a year ago. The last 12 months have given us 55,792 properties changing hands, which is right in line with the 55,921 closed transactions for the same 12-month period a year earlier.

Inventory remains low, but essentially kept up in February. We started the month with about 5,100 properties on the market and ended the month with just over 4,900 homes available for purchase.

The above info is for all types of homes. See the reports linked below for a breakdown of single-family homes vs. multi-family homes. We have data like this for every zip code in metro Denver and will be glad to send you a similar report for your little corner of the market.

While current market conditions are challenging for buyers, we are continuing to have success in winning deals for our buyer clients. For sellers, we’ve developed a couple new tools to help us easily compare and evaluate the multiple offers that are frequently received on a property.

Single Family Homes February 2015
Multi Family Homes February 2015

* All stats above are compiled by Colorado Home Realty from Metrolist data and represent transactions handled by real estate agents through the MLS system for the metro Denver area (excluding Boulder).