Although October is generally a weaker month for home sales than September, the sales data for October 2013 showed continuing strength, garnering an enthused reaction from industry observers.
“Our brokers and agents have seen a very busy year with a record-setting selling season,” Kirby Slunaker, CEO and president of Metrolist, told Inside Real Esate News.
“Sales, inventory levels and average home prices have changed very little from prior months, keeping the market nearly as competitive as the hot summer months.”
According to Metrolist’s data on Denver-area home sales, in October:
- 5,452 homes (both single-family and condominiums) were placed under contract, representing a 17.9% increase over October 2012 and a 2.2% gain over September.
- 4,628 home closings were logged, showing a 13% gain over October 2012 (though a 2.2% decline from September).
- The average price of a sold single-family home was $332,184, about 9% higher than October 2012 and up slightly from September.
- The average price for sold condominiums was $204,808, up nearly 14% over October 2012 (though slightly lower than September).
- The average days homes remained the market decreased a whopping 33% from October 2012 (though up 12.8% over September).
“While the market has slowed down slightly as one would expect, the numbers are incredible,” Slunaker said.
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