Residential real estate activity in Arapahoe, Douglas, Jefferson and Denver Counties, comprised of single-family properties, townhomes and condominiums.
New Listings were down 5.2 percent for single family homes but increased 1.3 percent for townhouse-condo properties. Under Contracts increased 6.2 percent for single family homes and 16.2 percent for townhouse-condo properties. The Median Sales Price was up 15.4 percent to $376,000 for single family homes and 17.5 percent to $218,500 for townhouse-condo properties. Days on Market decreased 31.0 percent for single family homes and 39.1 percent for condo properties. One interesting effect of a weaker-than-expected economy is that the Federal Reserve does not seem ready to raise short-term interest rates during summer, as some had suggested might happen. New projections indicate that rates will remain the same until September at the earliest. The dominant storylines in housing are decidedly not negative these days. Instead, you’re more likely to see top sales and luxury living highlighted than the woes of foreclosures and short sales.
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