Tweeter button Facebook button Linkedin button Flickr button Youtube button

Denver-area Home Sales Climbed in April

Denver-area Home Sales Climbed in April

By Howard Pankratz The Denver Post 05/04/2012 – 11:01 PM EDT

Metro-Denver home sales climbed in April as the spring home-selling season kicked off.

Buyers placed 5,681 homes under contract in April, up 7 percent from March and up 20 percent from April 2011, said independent real estate consultant Gary Bauer.

“It is pretty amazing. Everything is up. Denver is one of the strongest markets out there,” he said.

Bauer’s comments were based on an analysis of data supplied by Metrolist Inc .

The Denver-area housing market has recently heated up in certain price ranges due largely to extremely low inventory prompting bidding wars for some properties.

In April, 10,254 homes were listed for sale, down from roughly 18,000 a year ago.

“With low inventory of homes for sale, homes are selling on average close to the listing price,” Bauer said.

The average price for a single-family home was $298,712, up 5 percent from March, and up 10 percent from April 2011.

The average condo price was $178,231 in April, up 10 percent from March and 12 percent from April 2011.

Bauer said he was not ready to describe it as a sellers’ market.

“I contend that we are not totally in a sellers’ market,” he said. “There are certain neighborhoods and price ranges where there is still a lot of inventory.”

http://business-news.thestreet.com/denver-post/story/denver-area-home-sales-climbed-april/1