According to the latest data from Metrolist(R), home prices have returned to a level not seen since 2007. Despite lagging prices earlier this year, the housing market is finishing the year strong. REcolorado.com, a comprehensive real estate search platform powered by Metrolist, is showcasing a historically low number of houses due to lack of inventory.
“In the second half of this year, under contracts and sales have been neck-and-neck,” said Kirby Slunaker, President of Metrolist, the provider of REColorado. “When you take the steadily dropping days on market figures into account and factor in the pace of under contracts to sales, we assume December to close out strong. This is good news for sellers in today’s housing market.”
The average sales price for properties during the month was $285,664, up 3 percent from October and 13 percent ahead of last year, according to the Metrolist report. Average days on the market, an important indicator of the housing market’s health, was reported to be 70 days, well down from the 100 days it took to move a single-family property last year.
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