Active listings in the residential market (single family and condos) dropped 6.47 percent to 3,989 last month, which represented an all-time low for any January on record and only the second-time active listings have dropped below 4,000. The number of sold listings in January decreased by 33.21 percent compared to the previous month. According to Steve Danyliw, Chairmanof the DMAR Market Trends Committee and Denver real estate agent, these decreases are normal for this time of year.
Live Urban agent Myles McGinnis visits Denver's Montclair neighborhood and summarizes this month's market stats.
In the single-family home market, the average sold price rose 3.86 percent to $448,374, while the median price remained relatively unchanged at $380,000. Year-over-year, housing prices have increased 9.25 and 9.99 percent in the average and median sale prices respectively.
The condo market showed 34.05 percent fewer sales than the previous month, while the average and median sales prices dropped to $288,962 and $242,500 respectively. Year-over-year condo sales prices showed impressive gains, an increase in the average price by 6.83 percent and median price by 12.79 percent.
In January 79 homes sold and closed for $1 million or greater down 15.96 percent from the previous month, and up 16.18 percent year-over-year. The closed dollar volume in January in this luxury segment for both single family and condos was $127,658,230, down 3.68 percent from the previous month, and up 16 percent year-over-year.
The highest priced single-family home sold in January was $5,400,000 representing four bedrooms, seven bathrooms and 10,740 above ground square feet in Evergreen. The highest priced condo sold was $1,850,000 representing two bedrooms, three bathrooms and 2,771 above ground square feet in Denver (Lodo).
For condos priced $1 million or greater, January sales were down 43.75 percent from December, but December sales were 150 percent higher than November. Luxury condo sales last month were more than double the number of sales compared to January 2014.
If you would like more information about the Denver area's Real Estate statistics, or if you are wondering how all of these numbers actually impact your home's value or property search, we would love to help.
Socials