Denver’s $9 Trillion Increase in Real Estate Volume

In 2012, sales volume increased by nearly  $9 trillion over the previous year in Denver providing a nice boost to the local economy and housing market:

From Inside Real Estate News:

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Denver-area buyers snapped up almost $13 billion in homes in 2012, almost a 30 percent jump from the dollar volume in 2011, according to a report released today.

Buyers paid $12.95 billion for 46,299 homes last year, a 28.6 percent increase in the dollar volume of $10.06 billion in 2011 and a 17.5 percent from the 39,387 closings in 2011, shows the report released by independent broker Gary Bauer, who based his report on Metrolist data.

There were 56,412 homes placed under contract last year, a 19.1 percent increase from the 47,373 in 2011.

The average price of a single-family home sold in all of 2012 broke the $300,000 barrier, averaging $304,178 for the entire year, an 8.7 percent increase from the year-to-date average of $279,858 in 2011. In December, the average price of a single-family home closed was $315,451, a 14.5 percent increase from the $275,610 average in December 2011 and a 2.8 percent increase from $306,773 in November. The median price of a home sold in December was $255,000, up 11.3 percent from $230,000 in December 2011.