Again, we have some great news regarding Denver homes for sale. According to the latest report from Metrolist, home sales in October were up 29% from October 2011. In addition, this years sales figures continue to increase with Ocotber’s monthly sales increasing 4% from September’s – bucking the traditional seasonal trend.
Another number in the report that indicates just how well the market is improving is “days on market.” In October of 2011, homes were on the market for an average of 102 days. This year, October’s days on market was just 66. The entire report is worth reading but here are a few of the highlights:
From the Denver Business Journal:
Metro Denver home sales were up 29 percent in October from the same month in 2011, the Metrolist multiple listing service for the area reported Thursday.
October’s total of 4,095 sold homes also was up 4 percent from September levels. It was the highest October home sales level in the region since 2008.
Metrolist Inc. reported 4,624 metro Denver homes under contract but not yet closed last month, up 20 percent from a year earlier and up 4 percent from September.
These numbers include both the numbers for Denver homes for sale as well as Denver condos. All homes and condos listed in the MLS are included in this report. This includes Denver foreclosures and Denver short sales. As we have reported in other posts, the number of Denver foreclosures on the market has dropped drastically over the last 12 months.
Typically, as we head into the winter months we see housing sales diminish. It is incredibly telling this year we saw an uptick in sales from September to October. It will be interesting to see if that trend continues through November and December.
A 29% increase year-over-year is an incredibly positive sign. We will keep you posted as new statistics are released. As always, each neighborhood market is different. If you would like detailed statistics for your area, give our team call at 303–726–1874.