x
Breaking News
More () »

Record-breaking October adds fuel to Denver-area home market

The median closing price for a detached single-family home in Denver was $519,900 in October, up 14.26% from a year ago.

DENVER — October marked a continuation of the main themes that have defined the for-sale housing market in the Denver metro since early summer: low inventory, steep competition and rising prices.

Active listings across both detached and attached single-family homes at the end of the month stood at 4,821, a record low for October by nearly 2,000 listings, according to Denver Metro Association of Realtors' latest market trends report.

But that low level of inventory hasn't yet slowed down the pace of sales. There were 5,984 closed transactions in October, a 16.33% year-over-year increase. November appears poised for another big month, with a record 6,141 pending transactions at the end of October.

The pressure among buyers to find a home in this market has resulted in an increase in prices. The median closing price for a detached single-family home was $519,900 in October, up 14.26% from a year ago and 1.94% from September.

Continue reading at the Denver Business Journal

> Top stories curated daily just for you! Sign up for the 9NEWSLETTER to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.

SUGGESTED VIDEO: Next with Kyle Clark

MORE WAYS TO GET 9NEWS

Subscribe to our daily 9NEWSLETTER

Download the 9NEWS APP
iTunes: http://on9news.tv/itunes
Google Play: http://on9news.tv/1lWnC5n 

HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE

ROKU: add the channel from the ROKU store or by searching for KUSA.

For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.

Before You Leave, Check This Out