Residential Update for South Metro Denver
The median sales price of single-family homes continued to rise while available properties declined during May 2015.
According to information provided by REcolorado® and the South Metro Denver Realtor® Association, the median sales price of single family homes increased 15.4 percent to $376,000 in May 2015 over the May 2014. At the same time, the number of new listings dropped 5.2 percent – to 3,880 – across Arapahoe, Douglas, Jefferson and Douglas counties.
What that means is demand for homes remains high, while supply of available housing options remains somewhat low. In fact, the total number of active listings in May 2015 were reported as 3,604, down 36.5 percent from the 5,678 homes that were available in May 2014.
This is all good news for people who are trying to sell their homes, as the number of days on the market dropped while the sellers received slightly more than their asking price.
The average days a home was on the market dropped 31 percent to 20 days – from 29 days in May 2014, according to SMDRA’s report on monthly indicators. The percent of list price received rose to 100.9 percent, a slight increase over May 2014.
While these numbers cover a wide area of the Denver metro area, here are some of the statistics for several of the key areas in Douglas County that are served by the Osgood Team:
Parker-Single Family Homes – May 2014 vs May 2015
May 2014 May 2015
Active Listings 428 276
Under Contract 229 220
New Listings 287 246
Sold Listings 199 205
Days on Market 35 26
Median Sales Price $385,000 $400,000
Ave. Sales Price $422,304 $436,527
Lone Tree-Single Family Homes – May 2014 vs May 2015
May 2014 May 2015
Active Listings 76 79
Under Contract 18 17
New Listings 29 42
Sold Listings 20 22
Days on Market 33 87
Median Sales Price $661,393 $770,000
Ave. Sales Price $727,272 $922,926
Douglas County-Single Family Homes – May 2014 vs May 2015
May 2014 May 2015
Active Listings 1,579 1,072
Under Contract 722 735
New Listings 938 890
Sold Listings 714 654
Days on Market 34 28
Median Sales Price $374,000 $415,000
Ave. Sales Price $429,403 $470,614