Denver Continues to be on a Roll

It was a good day for Denver in the news..

and also.. from The Denver Business Journal –

“Two reports detailing the metro Denver single-family resale home market show it continues to improve year-over-year as the number of sales grew, average sales prices increased and the time it took to sell a house dropped more than a month.

The December report from Metrolist Inc., released Monday, shows there were 3,400 homes sold that month, an 8 percent drop from the number sold in November but an 8 percent increase in the number sold in December of 2011.

Average days on the market continued its year-over-year plunge as December’s 73-day average is 32 percent below the 107-day average posted a year earlier.

Metrolist officials said there’s only one way to describe the real estate situation here: a seller’s market.

“All over the country, home sales in the winter months proved to be a bright spot in the headlines,” Kirby Slunaker, president of Metrolist, said in a statement. “The average sales price for a Denver-area closing in December was $289,926, a noticeable jump from November’s average prices.”

That average sales price was 1 percent higher than November and a 14 percent increase over the $253,986 sales price posted in December 2011.

“It was a really strong month,” said Chad Ochsner, broker/owner of Re/Max Alliance, based in Arvada. “While we saw a little seasonal slowdown, I think December was busy for a couple of reasons: The weather was warm and dry at the beginning of the month, and sellers of high-end inventory decided to sell before the year end because of possible ‘fiscal cliff’ capital-gains tax increases.

Ochsner said Re/Max Alliance offices in the Denver area sold 742 homes in December, a 13 percent increase from the 663 sold in December 2011.

For the rest of the article, click here
Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog. Phone: 303-803-9232.

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