DMAR Real Estate Market Trends Report | JUN. '14
This month’s market data highlights an increase in consumer confidence of 83, up from 81.7 in April. Growth remains steady for market inventory, as well as number of new homes for sale, and the average sales price. While buyer demand continues to increase, market supply remains low, as two months remain in the prime buying/selling season.
“Property values are up, but inventory has increased only slightly, making it an ideal time for prospective home sellers to start evaluating their property’s worth,” said Anthony Rael, Chairman of the Denver Metro Area Association of REALTORS® Market Trends Committee. “Both buyers and sellers must remember to be prepared, do their homework, and manage expectations, in order to capitalize on the great opportunities available in our current market.”
The Denver Metro condo market is hot: with 1,852 new listings, and 1,493 went under contract, according to DMAR’s June 2014 Market Update. Active listings remain stable, with 7,479 homes (single-family and condo) available for sale throughout the Denver metropolitan area. Overall, the Denver home market continues to have less than a two-month supply of homes available at the current sales rate.