- Single family home sales A total of 4,625 single family home sales were sold. This is an increase of 19% over April, 2012. These sales totals are about 20% ahead of sales from May, 2011 which shows an impressive year-to-year increase.
- Average days on market Metrolist also tracks the number of days each sold property was on the market. The average number of days on the market dropped to 78 days, a decrease of 13% from the previous month.
- Median sales price Showing even more significant improvement is the median sales prices for homes in Denver. The average sales price for May, 2012 was $284,059 which is a 3% increase from the previous average of $275,241 for April.
- Inventory reduction The inventory on the real estate market has steeply declined from last year with 10,591 units available. This is a 41% decrease over the same time in 2011.
This data shows evidence of the return to a seller’s market in Denver. This may be the perfect time for you to sell your home in Denver and reap the benefits of a market on the rebound.
Contact the real estate professionals at Preferred Properties today if you need help with a serious real estate transaction in Denver.
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