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Average Denver Home Sales Hits Record High For April
Sellers listed a lot more homes in metro Denver last month, but not enough to prevent the average sales price for a single-family home from reaching a new high, according to a report Tuesday from REcolorado, the region's multiple listing service.
The average price for a single-family detached home sold in metro Denver went above $400,000 for the first time ever in April, reaching $402,302. That was up 11 percent from last year and 3 percent higher than in March.
"That is quite remarkable," said Chris Mygatt, president and chief operating officer of Coldwell Banker Residential Brokerage in Colorado.
Mygatt said a quarter of homes in metro Denver are now selling for more than $500,000. Three years ago, only 10 percent of homes sold for more than that amount.
The median price for all homes sold, including condos, was $314,000 in April, up from $312,000 in March.
Last month, 7,566 new listings came on the market, a 21 percent increase over March and 8 percent more than hit the market in April 2014.
There were 4,416 homes sold, a 7 percent increase from March. That gap between new listings and sales pushed active listings at the end of April to 6,149, 19 percent more than available in March.
"Improved inventory expanded choices for consumers in April, bringing more buyers to the market and contributing to positive sales," REcolorado CEO Kirby Slunaker said in a statement.
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