Denver Home Sales Fall as Prices Rise

hamilton-zanze October 08, 2013

In the Denver MSA, single-family home sales fell 16% from August to September to 4,730 transactions. Despite the month-over-month drop, sales are still 20% higher compared to a year ago. Average sales prices also increased year-over-year by 8% to $304,958 in September.

For-sale properties spent an average of 39 days on the market, a substantial decrease from last year’s average of 64 days. Kirby Slunaker, president of Metrolist, noted: “Prices are stabilizing, competition for new listings remains, and inventory increases seem to be steadying the local market overall. All of our data points to a healthy market, which leads us to believe we are experiencing a true housing market recovery.”