Third Quarter Real Estate Market Trends for Denver Metro.
The Denver market has seen strong growth in sales price and volume in 2013. Previous years saw 2011 as a year of stability and 2012 began the initial recovery of the Denver housing market. Presently, Inventory is tight and will not get better (from a buyers point of view) until at least the 2nd quarter of 2014. Denver is currently in a sellers’ market which may drive prices up slightly over the next couple quarters. We anticipate home prices staying steady and not decline again over the next 3-5 years. Below is some key statistical data for the last 12 months in the Denver Metro Area:
Average Home Price: 3rd Qtr 2013 vs 3rd Qtr 2012 : +12%
Months of Inventory (MOI): 10/01/12 – 2.7 MOI
01/01/13 – 1.8 MOI
04/01/13 – 1.5 MOI
07/01/13 – 2.0 MOI
10/01/13 – 1.7 MOI
Number of Homes Sold: 3rd Qtr 2013 vs 3rd Qtr 2012: +25%
For further information please email your requests to firstname.lastname@example.org. I have more detailed data for several different locations in the metro area.
For a a brief explanation of the above info please watch the 3 minute presentation by Lon Welsh, President of Your Castle Real Estate.