DENVER, CO, May 09, 2012 (MARKETWIRE via COMTEX) –
New data from Metrolist(R), the largest real estate multiple
listing service (MLS) serving Colorado real estate agents, show
another uptick in Denver Metro area home prices as inventories hit
their lowest level in three years.
According to Metrolist, the provider of REcolorado.com, the average
sales price for the Denver residential market jumped another 6% in
April to $275,241. Metrolist’s April data show notable increases in
every important component, including sales pending contracts, sales
under contract, and sales for single family homes, while days on
market (DOM) continue to shrink.
According to Kirby Slunaker, Metrolist’s President and CEO, the
uptick in average sales price last month may be the start of an
upward trend in the metro Denver market.
“We continue to see tight inventory in the market, which means there
are about two to three months of available supply,” said Mr.
Slunaker. “With these tight inventory levels, I wouldn’t be surprised
to see further price appreciation into this summer’s buying season.”
Compared to April last year, the average price for a single-family
residence in the Denver metro area is 11% higher, while the number of
homes for sale is down by 43%.
As steadily declining inventory pushes prices higher, buyers who must
make a purchase decision should expect to be aggressive and ready to
make multiple offers. Sellers, meanwhile, need to be ready to
evaluate multiple offers with their Realtor(R).
Metrolist launched REcolorado.com earlier this year as a way to give
buyers, sellers, and brokers the ability to prepare for a fast-moving
market this summer The consumer-friendly search engine incorporates a
variety of tools to help in the home buying process, including
enhanced listing information with access to school and neighborhood
data. REcolorado.com also helps interested homebuyers and sellers
find agents who specialize in their market.
“We’re seeing product that is move-in ready and in tip-top shape
moving quickly,” says Mr. Slunaker. “We’re urging all potential
buyers and sellers to gear up right now for a competitive
Metrolist is the largest MLS in the state of
Colorado, supporting the largest network of Realtors(R) with the most
comprehensive database of real property listings throughout the Front
Range. Realtor-owned since 1984, Metrolist provides leading
technology solutions to real estate agents and brokers to better
serve buyers and sellers. More information about Metrolist is
CONTACT: Andra Lewis Alewis@csg-pr.com 480-250-3447
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