Time to close your long-standing 2016 real estate betting pools and settle up, the Denver Metro Association of Realtors January trends report is in.
If you had a lot of money riding on Denver real estate continuing to shatter records, bad news. While the metro is definitely still hot, fewer single-family homes and condos sold this year.
The number of days that available homes were on the market went up in 2016 as well. So not only is the figure slightly less jarring than during 2015, there were about three more days to snap up a home on average.
Sounding pretty good for a prospective homeowner, except for the most important part — cost. Prices for single-family and condos continued to rise during 2016.
The median sold price for single-family homes went up 8.54 percent and the median sold price for condos went up 14.44 percent in 2016 as compared to the previous year.
Now, go forth and start new betting pools on Denver’s 2017 real estate market.