Denver buyers snapped up homes at a record pace in December, sharing the No. 1 spot in the country for quick home sales.
Across the nation a home that sold in December sat on the market for 62 days,
But homes in the Denver metro area averaged just 36 days on the market before they sold, a pace matched only by Omaha.
“Days on market” is the number of days between when a home is first listed in a multiple listing service and a sales contract is signed.
Last year was the best year for U.S. home sales since the recession, according to the ReMax report. Nine months of 2016 posted higher sales than 2015.
Denver was No. 3 in the country for the lowest supply of inventory, ranking behind San Francisco and Seattle.
Median sales prices increased in December over a year earlier in all but two markets included in the 53 metro areas surveyed by ReMax. Home sales prices dropped only in Des Moines, Iowa, and New Orleans. The largest price increases were seen in Birmingham, Ala. (17.1 percent); Tampa, Fla. (16.8 percent); Charlotte (13.2 percent), Seattle (12.9 percent) and Orlando, Fla. (12.3 percent).
“Much like 2015, we saw a mostly healthy housing market in 2016 that posted steady growth in sales and prices,” said Dave Liniger, RE/MAX CEO, board chair and co-founder. “We’re back to pre-recession levels in many markets, with 2017 forecast to be another solid year. We’ll have to wait and see what impact rising interest rates will have.”
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