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Real Estate: The Competitive Market

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You need only one word to describe the Denver real estate market: hot. The latest figures released by Denver Metrolist, a company that tracks real estate statistics in the Mile High City, detail a market that remains sizzling. “The 2014 selling season looks to be another competitive one for home buyers in the Denver Metro area,” said Kirby Slunaker, CEO and president of Metrolist. “We continue to maintain a supply of just 11 weeks, and while prices are stable now, we expect them to increase as buyers become more active in the spring and summer.” Here, according to Denver Metrolist, a look at the latest numbers in the Denver real estate market.

$294,565

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The average price of a new or existing home sold in the Denver metro area in February.

$211,201

The average price of a single family attached home sold in February, which is up 20 percent compared with February of the previous year.

$324,581

The average price of a detached single family home sold in February, which is up 7 percent from the previous year.

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10 percent

The percentage increase in the number of homes for sale on the market in February 2014 when compared to February 2013.

57

The average number of days a home spent on the market in February 2014, a 29 percent decrease when compared with February of the previous year. For detached single-family homes, the number dips to just 47 days on the market.

Image courtesy of Shutterstock

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