HOME SALES AND PRICES CONTINUE TO TREND UPWARD

HOME SALES AND PRICES CONTINUE TO TREND UPWARD

Statewide and Regional First Quarter 2013 Housing Statistics

http://www.ColoradoREALTORS.com/HousingStatistics

Sales of single-family, condominium and town homes (taken together) increased 16 percent statewide

to 18,343 units during the first quarter 2013 compared to first quarter 2012, according to Quarterly

Market Statistical Reports released by the Colorado Association of REALTORS® (CAR).

New listings dropped slightly more than 7 percent statewide, primarily due to drops in the

Denver Metro Region and the Mountain Region, while the median sales price rose nearly 15 percent to

$225,000 compared to the first quarter 2012. Days on the market continued downward, dropping 22

percent to 90 days on average. The statewide number of active listings for the first quarter was at

30,114, representing a 4.1-month inventory supply.

“These figures are quite similar to what we reported last quarter and demonstrate consistent

patterns that speak to a steadily recovering market in Colorado,” said CAR spokesperson, Michael

Welk. “We are seeing more sales, increasing median pricing and fewer days on the market

consistently over the last three quarters compared to previous years. In many areas of the state sellers

are receiving as much as 98 percent of asking price on average and seeing their homes sell very

quickly. Similarly, buyers continue to face significant competition in most areas.”

The Colorado Association of REALTORS® Quarterly Market Statistical Reports are prepared

by 10K Research and Marketing, a Minneapolis-based real estate technology company, and are based

on data provided by Multiple Listing Services (MLS) in Colorado. The current Q1 2013 reports

represent approximately 90 percent of all MLS-listed residential real estate transactions in the state.

The metrics do not include “For Sale by Owner” transactions or all new construction.

Sales of lender-mediated properties (properties owned by banks and other mortgage lenders)

declined in all areas of the state, ranging from a drop of 3 percent in the Southeast to 44 percent in the

Northwest area. Overall, such sales represented about 22 percent of all transactions in the first quarter

2013. The median sales price for lender-mediated properties increased 10 percent statewide compare

to the same period in 2012.

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About Garry Callis - Legacy Real Estate Group - Colorado

Awesome Colorado Realtor! Check me out at www.legacyrealtor.net

Posted on May 3, 2013, in Market Conditions. Bookmark the permalink. Leave a comment.

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