2015 was a record-smashing year for the Denver residential real estate market.
Total sales volume was $20.16 billion, up 14.5%from 2014.
The year ended with only 5,501 active listings, and illustrates the story of the year's market: low inventory. In addition, low interest rates, an improving local economy, and the continued influx of new residents drawn to the Mile High City, created high demand for Denver real estate.
Taking into the account the entire year, the average sales price for a detached single family home was $400,361. That represents an 11% annual increase in value, and firmly places Denver at the top of the nation's real estate market. And a fast moving one too. The average time for a property to be on market was only 26 days.
59,179 homes were sold and closed throughout the year. With both record setting prices and sales volume, 2015 was the biggest year of real estate sales in Denver history.
If you would like more information, or are wondering how this might be impacting your Denver Metro area's property value, or if you are thinking about buying a home in 2016, contact us. We are happy to talk you through it!
Socials