DENVER, CO, Jul 05, 2012 (MARKETWIRE via COMTEX) –
The latest data from Metrolist(R), the largest real estate multiple
listing service (MLS) serving Colorado real estate agents, show May
to be another impressive month for Denver Metro area home sales.
With a 6% increase over last month’s rising numbers, total sales for
single family residences in the Denver residential market are now
running 20% ahead of the same period last year. According to
Metrolist, the provider of REcolorado.com, average days on market
(DOM) fell another 8% to 72 days, a full 32 days shorter than June
2011.
According to Kirby Slunaker, President and CEO of Metrolist, the
fast-moving market is a function of rising demand and dramatically
shrinking inventories.
“We’re nearing inventory levels that are about 40% under last year’s
available units while sales continue to run well ahead of 2011
figures,” says Mr. Slunaker. “In other words, product that’s priced
right and ready to sell is moving quickly. We expect the Denver
market to really sizzle this summer.”
The Metrolist report also showed prices in the Denver metro area on
the rise. The average sales price for single-family homes rose to
$297,597 in June, a 5% jump from May and a 12% increase from last
year. Excluding condos, the average home sales price in the region
was $324,497 for the month.
“With double-digit increases in prices and sales volume from last
year, I have to think Denver is among the better performing markets
in the U.S. today,” says Mr. Slunaker. “The bottom line is we need
more available inventory for homebuyers to choose from.”
Metrolist launched REcolorado.com earlier this year as a way to give
buyers, sellers, and brokers the ability to move quickly on the
market this summer. In addition to property and open house listings,
the consumer-friendly search engine incorporates a variety of tools,
including a new “What’s Your Home Worth?” calculator to help in the
home buying and selling process.
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/denver-real-estate-market-continues-to-sizzle-2012-07-05
