Denver Metro Home Sales Remain Above National Average
The national median home sales price in June surged to an all-time high of $236,400 in June, up 6.5 percent from a year ago, according to a report by the National Association of Realtors.
The total number of sales increased year-over-year for nine consecutive months and jumped to 5.5 million in June, up 3.2 percent from May. The existing home sales report surveys townhomes, condos, single family homes and co-ops.
"Buyers have come back in force, leading to the strongest past two months in sales since early 2007," Lawrence Yun, chief economist of the National Association of Realtors, said in a release. "This wave of demand is being fueled by a year-plus of steady job growth and an improving economy that's giving more households the financial wherewithal and incentive to buy."
Denver's average single-family home price was $362,000, while condos sold at an average of $217,999 in June.
Nationwide, the supply of for-sale homes averages about five months, with properties staying on the market for 34 days in June, down from 40 days in May.
In June, about 47 percent of homes sold in less than a month — the highest percentage in two years, according to the National Association of Realtors.
"Anytime you are in five- to seven-month range, it's a healthy, balanced market," he said. "If you contrast that to Denver, we measure on weeks."
JUNE STATS FOR DENVER:
Active listings 6386
Median Sales price $324,950
Number of sales 5784
Average days on market 6
Months of inventory 1
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