National Association of Realtors® reported in a press realease on January 22, 2013 that existing-home sales eased in December but are well above a year ago, while limited inventory maintained the upward momentum in home prices. Total sales in 2012 were the highest in five years, while the annual price rose the most since 2005. Recent Data also shows that home prices remain affordable.
Looking at the annual market comparison we found that 11554 residences have sold in 2012 in Denver Central area – that’s 18% increase from a year ago (9781 residences total sold in 2011). Residential (SF) segment of the market had an increase of 16.76% in the number of sales (from 7100 in 2011 to 8290 in 2012), while condo market had a 21.75% increase in sales (from 2681 in 2011 to 3264 in 2012).
Average price sold of a Denver residence is up 13.28% from $205,641 in 2011 to $232,943 in 2012. Residential (SF) price sold was up 12.42% from a year ago ($289,542 in 2011 vs. $325,497 in 2012) and condominium price sold was up 12.31% ($266,544 in 2011 vs. $299,351 in 2012).
The ratio between residential (single family homes & duplexes) and condo (townhomes & condominiums) sales has remained almost the same – 72% residential / 18% condominiums in 2012 vs. 73% residential / 17% condominiums in 2011.