Heading into spring selling season, Denver Metro home prices remain stable and inventory tight, according toMetrolist.
The average sold price for new and existing homes in February$294,565was up 6 percent year over year and down just 3 percent compared to January. Prices for single family attached homes remained particularly strong, with February's average sold price of $211,201 up 20 percent, year over year. Single family detached homes had an average sold price of $324, 581 in February, up 7 percent year over year.
Available inventory remains tight in the Denver Metro area. February saw a slight decrease in the number of homes for sale, with active listings decreasing by 2 percent compared to January but up 10 percent year over year.
Among properties sold in February, the average listing spent just 57 days on the market, a 29 percent decrease year over year. Single family attached homes, in particular, continued to move quickly. Properties sold in February averaged just 47 days on the market, a 36 percent decrease compared to last year. Single family detached homes sold in February averaged 60 days on the market, a 26 percent decrease year over year.
Read more as originally published by Metrolist at ReColorado.com.
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