June Was A Very Good Month For The Denver Housing Market

During the month of June in Denver the housing market saw increases in both the average price and in the number of sold homes for the 5^th month straight while "days on market" decreased. These are all good signs.

The average price has increase steadily from $213,330 in January to $258,434 in June. That is a 21% increase and indicates a reviving market.

The number of sold homes in January stood at 2469. That number has increased every month since to a current high in June of 4186. That is a 41% increase! Quite a bounce!

Other good signs are the under contract numbers which have also increased steadily since January when the number was 3831 to June which had 5664. Average "days on market" has decrease to 100 from a high of 107 in February.

Denver Home Sales Statistics

January February March April May June

Active 19,748 20,059 20,628 20,705 20,734 20,853

Under Contract 3831 4183 4826 5183 5343 5664

Sold 2469 2484 3206 3390 3628 4186

Avg DOM 101 107 106 104 105 100

Avg Price 213,330 218,010 232,395 233,482 243,022 258,434

% of Orig Price 90% 90% 91% 91% 91% 92%

More houses are selling, at higher prices and in less days. That is music to sellers ears.

Another bit of good news, the percentage of selling prices to original prices is up to 92%, a 2 point increase since January.

As we predicted the housing market is improving. The improvement is steady and some of it is just normal for this time of year. We are not out of the woods, yet. The job market being down is probably a damper on the housing market. However, the $8000 buyer tax credit is helping. Since we will have the tax credit around until November, that factor will continue to help home sales. How the job market improves or gets worse will also have an effect on them.

Highlands Ranch Statistics

Jan Feb March April May June

HOMES

Active 570 611 667 692 714 717

Under Contract 121 135 186 156 204 203

Sold 53 57 121 136 135 172

Ave. Price 368,011 307,185 349,459 325,073 349,744 368,011

% of Original Price

91% 93% 91% 95% 94% 94%

CONDOS

Active 113 120 120 143 139 133

Under Contract 18 17 25 19 36 45

Sold 14 13 13 14 29 28

Ave. Price 235,534 251,730 225,842 235,658 274,552 240,788

% of Original Price

92% 94% 90% 91% 92% 94%