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Denver Real Estate Trends, 3rd Quarter 2013

November 20, 2013 By Tom Johnson

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 tomjohnson@yourcastle.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.

http://www.youtube.com/watch?v=9xk1LyRrO38&feature=youtu.be

 

 

 

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