2014 has started off with a new record set for market inventory. The active housing inventory level for January 2014 decreased down to 4,592 for detached residential units and 1,116 attached residential units. When a significant reduction in inventory occurs within a market, typically upwards pressure on pricing is noted and multiple offer situations begin to arise.
January 2014 was no exception to this common occurrence. Average sold prices were up by double digits in both detached and attached dwellings, to $336,375 or 11.4% and $195,366 or 14.4% respectively for the Denver Metro Area.
Here are the highlights for January 2014 for the Denver Metro Area:
Detached Residential active 4,592 units, down -21.3% form January 2013.
Attached Residential active 1,166 units, down -7.5% from January 2013.
Detached Residential under contract up 31.3% from December 2013.
Attached Residential under contract up 54.0% from December 2013.
Detached Residential MSI sits at 2.6 months, up 2.7% from January 2013.
Attached Residential MSI sits at 2.0 months, down -3.2% from January 2013.
So how do you think your neighborhood is doing? Get your Free Real Estate Market Report for Your specific neighborhood by adding your zip code to the link. Call the Hoffman Home Team with any questions.
Heidi Hoffman ~ Hoffman Home Team ~ 303-949-9770 ~ Keller Williams Realty
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