DENVER – Feb. 11, 2014 – Average Denver Metro home prices remained steady in January, signaling a strong 2014 for area real estate, according to Metrolist®, Colorado’s largest multiple listing service (MLS)
The average sold price for new and existing homes in January—$302, 251—was down 3 percent compared to December but up 10 percent year over year.
January 7% increase
January saw a slight increase in the number of homes for sale, with active listings increasing 5 percent month over month and 7 percent year over year, but available inventory remains tight. Among properties sold in January, the average listing spent just 61 days on the market, a 22 percent decrease year over year. The number of homes sold in January increased 3 percent, from 3,229 to 3,342.
Single Family Strong
The numbers in the single family detached market are equally strong. The average price of the 1,901 homes sold in January was $331,198, down just 2 percent compared to December and up 10 percent over last year.
“We are optimistic about the 2014 real estate landscape,” said Kirby Slunaker, CEO and President of Metrolist, Inc. “We’d advise any consumers who are planning on entering the market for a new home later this year to start looking early.”