Denver housing market inventory tops 8,539 active homes in October.
Denver housing market inventory tops 8,539 active homes in October. Year to date, the inventory has increased 35.28% compared to last year. Although, other real estate market factors including sales volume, days on market, and housing prices continue to favor home sellers in the Denver area. Year to date through October, sales volume for the Denver area residential market has exceeded $22.5 Billion, up 5.45% from last year. Furthermore, the average and median home prices in October were $471,321 and $400,000 respectively, up 7.12% and 5.26% compared to 2017. The average sold price last month for a single family home was $526,092, up 8.43% year over year, while average days through October was the same, at 24 days, as in 2015, 2016, and 2017.
Although the Denver housing market inventory reached 8,539 active homes in October, it’s still fewer than the end of September which was 8,807 active homes, but more than any other month since November 2017.
Months of inventory for single family homes increased to 5.76 months, while condos increase to 8.15 months.
For the luxury market, a total of 161 homes sold for $1 million or greater in October, up 26.77% from previous month but down 2.42% year over year.
Excel Energy promise to eliminate carbon emissions 2050: Excel Energy is going all in on clean energy, pledging to cut its carbon emissions by 80% by 2030 and be completely carbon emissions free by 2050.
48 Condos proposed for Arapahoe Square parking lot: Denver based RedT Homes wants to build a five-story structure with 48 condominiums on the southeast corner of Park Avenue West and Curtis Street. The structure will have one level of below-grade parking and amenity space.
NAVA launches second condo project in Uptown: NAVA Real Estate Development has unveiled plans for a new 249 unit condominium development in Denver’s Uptown neighborhood. The 12-story building at 575 E. 20th Ave. will be designed to achieve WELL Building certification through the International WELL Building Institute. Parking will be available for every residence and sale are tentatively scheduled to begin in spring 2020.
The scraping of Denver: buy-buy bungalows; hello townhomes, duplexes and mansions: According to data provided by the City of Denver about 1,200 structures have been demolished and replaced with new ones since 2016. Sloan’s Lake, Berkeley and East Wash Park had the most scrapes, according to the data.