DENVER, CO, Jun 07, 2012 (MARKETWIRE via COMTEX) –
The latest data from Metrolist(R), the largest real estate multiple
listing service (MLS) serving Colorado real estate agents, show
another monthly uptick in Denver Metro area home sales.
Unit sales for single family residences in the Denver residential
market climbed to 4,625 in May, a 19% increase over the previous
month. Average days on market (DOM) according to Metrolist, the
provider of REcolorado.com, dropped 13% to 78 days.
The average sales price, meanwhile, jumped further in May, rising to
$284,059, a 3% gain from April’s average of $275,241. Excluding
condos, the average home sales price in the region was $307,896 for
the month.
“With sales and under-contract listings running more than 20 percent
ahead of last year, the Denver market is showing a lot of promise,”
said Kirby Slunaker, President and CEO of Metrolist. “And in terms of
the past three years, inventory is at an all-time low. I think we
might have a very healthy sellers’ market on the horizon.”
Metrolist’s May data indicated total inventory for the Denver metro
area stood at 10,591 units, a number slightly ahead of last month but
down significantly (41%) compared to the same period last year.
“We’re hearing about reports of multiple offers on properties and
we’re already seeing a steep drop in days on market for single family
residences,” said Mr. Slunaker. “With about three months’ supply of
available homes and another uptick in the average sales price, we
have an extremely positive outlook for this summer’s housing market.”
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.
About Metrolist
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
available at
www.metrolist.com .
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CONTACT:
Melissa Olson
Molson@metrolist.com
303-819-6153
Andra Lewis
Alewis@csg-pr.com
480-250-3447
SOURCE: Metrolist
mailto:Molson@metrolist.com
mailto:Alewis@csg-pr.com
Copyright 2012 Marketwire, Inc., All rights reserved.
Article source: http://www.marketwatch.com/story/sellers-market-on-the-horizon-for-denver-real-estate-2012-06-07
