Colorado home prices up 12% year-over-year in October 2015. The average price of a home, including both detached single-family houses and condominiums reached $363,718 in October compared to $323,714 in October 2014. However, the inventory of active home listings did increased 6% year-over-year, according to the latest data from the Denver Metro Association of Realtors. The inventory for October stood at 7,156 active listings compared to 6,748 last year. Average days on the market dropped 16% to 31 days in October, compared to 37 days last year.
Condominiums however, did see the highest appreciation compared to single-family houses with nearly a 20% increase year-over-year, which was almost four times the national average according to Zillow.
In addition, home sellers in Denver County also saw an average of 41.5% gain over what they originally paid for their home according to RealtyTrac, which places Denver County No. 6 in the country for the highest percentage sales gains.