Metro Denver home sales continue to rise

Metro Denver’s housing market continued its steady recovery in September, with sales increasing 18.3 percent compared to the same month last year.

There were 3,949 homes sold last month, compared to 3,337 in September last year, according to an analysis of Metrolist data by independent consultant Gary Bauer.

“This is a very positive and surprising year,” Bauer said. “Historically, the prime season stops about the 15th of August, but it’s still going.”

Though the median price of $255,000 in September was down from the previous month’s $262,000, it was up nearly 11 percent compared to a year ago, when the median price was $229,804.

“I don’t want to see pricing increase too fast, Bauer said. “With a $1.1 billion closed volume, this was a good September.”

There were 10,470 homes for sale in September, down 32.6 percent compared to a year ago when there were 15,533 houses on the market.

“When we first went to 10,000 homes on the market I was very concerned it would continue to drop and that it would destroy the market,” Bauer said. “But it’s continued to stay at 10,000 to 11,000 for the last nine months and that’s great.”