Thursday, January 10, 2013

Denver Business Journal: "Denver housing market strong on all fronts"

Metro Denver: Cold winter weather, hottt real estate market. Two reports detailing the metro Denver single-family resale home market show it continues to improve year-over-year as the number of sales grew, average sales prices increased and the time it took to sell a house dropped more than a month.
The December report from Metrolist Inc., released Monday, shows there were 3,400 homes sold that month, an 8% increase in the number sold in December of 2011.
Average days on the market continued its year-over-year plunge as December’s 73-day average is 32% below the 107-day average posted a year earlier.
Metrolist officials said there’s only one way to describe the real estate situation here: a seller’s market.
“All over the country, home sales in the winter months proved to be a bright spot in the headlines,” Kirby Slunaker, president of Metrolist, said in a statement. “The average sales price for a Denver-area closing in December was $289,926, a noticeable jump from November’s average prices.”
That average sales price was 1% higher than November and a 14% increase over the $253,986 sales price posted in December 2011. 
We really haven't seen this demand and these prices for years. Denver is far from "recovery," is presently rebounding.