No fewer than 10,771 family homes were sold in July. This up by 15.7% from June, and is 21% higher than July’s number of sales last year. The median price for homes was $443,925, which is up by 8% from last year and represents a new record. Printing services can be used to advertise homes that are for sale.
Buyers have fewer options to choose from, but the rate of deals being closed is increasing. A report from the Colorado Association of Realtors shows that the number of active listings dropped by more than 11% from the previous month, and is down 42% from last year. The limited number of houses on the market has pushed prices up, and low interest rates are making them more affordable.
Danielle Hale from Realtor.com said:
“People expected that once we entered a recession…home prices might fall, or at least weaken…but of course, that isn’t what we’ve seen.”
More than half of these sales were made in the Denver metro region, which includes Broomfield and Westminster. Single-family homes sold the most units, while condos and townhomes are bringing up the rear. The analysts feel that this is because people are in the market for larger homes since they will be spending more time indoors than ever before.