October home sales in the metropolitan area continued to show strong year over year statistics extending the 2013 sales trend into the start of the 4th quarter. Even with the two week government shutdown, sales did not wane in Denver. Land Title Guarantee Company provided the following statistics gathered from the Denver MLS Search data in relation to October sales:
• 10.8% increase in the number of closed sales year-over-year
• 19.3% increase in the number of closed sales year to date
• 31.3% decrease in average days on market (46 days in October)
• .2% increase in # of active listings
• 11.0% increase in # of new listings (4073 new listings in October)
• 9.2% increase in average price - sold ($332,184 in October)
• 21.3% increase in number of closed sales year-over-year
• 26.2% increase in number of closed sales year to date
• 39.3% decrease in average days on market (37 days in October)
• .1% increase in # of active listings
• 21.8% increase in # of new listings (1079 new listings in October)
• 13.9% increase in average price – sold ($204,808 in October)
In Luxury Real Estate sales news, the Kentwood Real Estate Marketing Department reported that through October 2013, buyers purchased $896,563,549 in single-family Million Dollar properties comprised of 591 transactions compared to $674,587,675 in sales and 439 transactions in 2012. This resulted in an increase of 32.9% in volume and an increase of 34.6% in transactions respectively. Year to date in 2013 the highest sold property was $8,691,000 (April) which is 15.9% more than the 2012 highest priced sale of $7,500,000 (July). The number of days on the market is now 16.0% less at 158 days versus 188 days in 2012.
The Denver Post supported this report in an article published last week that also noted that Sellers received a higher percentage of their asking price on average than in September and October of 2012.