Homes for Sale in June Increased with Sellers’ New Listings
GREENWOOD VILLAGE, CO – July 7, 2016 – According to the latest data from REcolorado, the provider of REcolorado.com, a free home search site for Colorado home buyers, sellers and renters, June saw an increase in the number of homes for sale in the Denver Metro and surrounding area, thanks to sellers bringing new listings to the market.
Available home listings increased 22 percent from May, taking the number of homes for sale to 8,030 at June month end. Compared to this time last year, there are seven percent more homes for sale.
June’s increase in inventory was driven by sellers bringing new listings to the market. During the month, 8,248 single family homes were listed, 13 percent more than last month and 8 percent more than this time last year. The supply of inventory for the Denver metro and surrounding area remained at approximately six weeks.
Meanwhile, average sold prices increased three percent month over month, averaging $418,747. Denver-area prices are up 12 percent over average prices in June 2015, demonstrating continued demand. Despite continued price growth, homes spent an average of 20 days on the market in June, four days less than last month.
“Colorado’s competitive housing market has not been a deterrent for home buyers who are coming to the market prepared to put contracts on homes nearly as quickly as they are available for sale,” said Kirby Slunaker, president and CEO of REcolorado. “Home sales have sustained their momentum, keeping us on pace with previous year’s sales.”
In June, 4,939 homes sold, which was a 10 percent increase over last month. Throughout the month, 7,220 homes went under contract, a two percent decrease as compared to last month.