According to Metrolist, many of the housing indicators for October 2014 showed little change month over month. However, prices remained strong.With 8,041 active listings on the market, inventory of available homes showed the slowing that is expected this time of year. In October, the active listings slid 10 percent as compared to last month, and were down 23 percent as compared to this time last year. The number of new listings that came on the market was down eight percent month over month and two percent year over year.
After two consecutive months of decreases, October brought an increase in the average sales price for single family homes. The average sold price in October was $323,750, up one percent from last month and a seven percent increase year over year.
In October, home sales were flat as compared to last month and were up three percent year over year. Although days on market saw a month-over-month increase, homes continued to move quickly. Homes stayed on the market an average of 34 days in October, a four-day increase as compared to last month, and 11 days fewer than October 2013. The market absorption rate indicated a steady level of demand for properties, with a supply of approximately eight weeks of inventory at October month end. Download a copy of the report here.
Watch this month's market report video, featuring Live Urban broker Caren Colangelo, who visits Denver's Platt Parkneighborhood and its many shops and restaurants.
Read more at ReColorado.com
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