While we’re in an expected seasonally increased sales period, market activity for existing home sales for the Denver real estate market shows signs of continued strength. Sales volume on pending contracts and sold properties has trended up for several months now. In a recent national survey, Denver was nominated to be the top of 20 cities per the S&P/Case-Shiller® Home Price Indices and number one of the top housing markets on the rebound as announced on MSNBC Today.
Combined residential sales volume, for May, including single-family homes, townhomes, condos and lofts was 3,628 properties, up 7.02% % from April’s volume 3,390. Temper this with the fact that sales are still down 22.21% from May of 2008, per Metrolist Inc., Denver’s Multiple Listing Service.
There were 5,343 homes under contract last month. This includes 4,301 single-family homes and 1,042 condos and townhouses. This is an overall increase of 3.09% from April, but down 15.7% from year-prior last May. Single family homes contracts are up 3.56% while condo and townhomes are up 1.17%.
In May, the Denver MLS had 20,734 homes for sale, an increase of .14% from the prior month, down 21.26% from the same time last year. The average home sales price was $243,022, an increase of 4.09% from last months average price $233,482, down 5.05% from a year ago, $255,944. Continue reading this post