Home Sales Up in Denver: Metrolist MLS

·         A recent report released by Metrolist MLS shows continued improvement in the Denver Metro area housing market.  The data shows another monthly increase in home sales for the metro area in Denver.  In May, the number of single-family homes jumped 19 percent compared to last month with 4,625 homes sold.  Another positive indicator was the days on market (DOM), which declined by 13 percent to 78 days.  The average sales price in May climbed 3% to $284,059—not including condos, the average single family home sold for $307,896 in the Denver Metro area in May.

·         The Denver housing market should continue to see increased activity this summer.  “With sales and under-contract listings running more than 20 percent ahead of last year, the Denver market is showing a lot of promise,” said Kirby Slunaker, President and CEO of Metrolist.  The housing inventory in Denver is off by 41 percent compared to last year, according to the MLS data.  MLS has received several reports from real estate professionals that they are seeing multiple offers on properties.  These are all good signs for the summer housing market in Denver.