January 26, 2016
Average price of all residential sales in January was just over $440K. The average single family home was going for $484k, while multi-family places went for $344k on average.
The 12-month moving average appreciation rate, which is the best measure of real trends in prices, was 8.1%
There were 2,756 homes that changed hands in January, down 8.7% from the number sold in January 2016.
We ended the month with 3,373 homes on the market, which is down 13.2% from the 3,884 available at the end of January in 2016. Most of the difference was due to fewer single family homes being available for purchase.
All those numbers for metro Denver as a whole, but trends vary by area price range, type of property, etc. I can send you a report that shows you what's happening for your type of property (single family or multi-family) in your zip code. If you're interested, shoot me an email at firstname.lastname@example.org
Denver rents are expected to rise 4% in 2016. The Denver rental market is slated to be 4th strongest nationwide behind only Seattle, San Francisco, and San Jose. Why sell your home when Bergan & Company can help you manage it as a rental property. Gain stable and increasing rental income without the headache of property management.