Active Average

While we frequently research and discuss average prices for properties that sell, it is also interesting to look at the average prices for properties that are active on the market but not sold yet.

These are the average prices, by area, for properties currently listed for sale and not sold yet:

  • Metro Denver = $954,000
  • Larimer County = $878,000
  • Weld County = $880,000

If you are surprised that Weld County is higher than Larimer County, it’s important to note that there are several large acreage properties listed for sale in Weld County which are skewing the average.

These average active prices are all roughly 30% higher compared to a year ago and further emphasize the strong activity in the Front Range market.

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No Foolin’

This is not an April Fool’s joke.

 

Average prices in Metro Denver just exceeded $700,000 in Metro Denver.  Larimer County isn’t far behind.

 

For the month of March, the average residential sales price in the 5-county Metro Area was $704,000.  This does not include Boulder County.

 

Larimer County was $691,000 and we expect to see an average exceeding $700,000 in the very near future.

 

It’s also interesting to note the average price for properties currently listed for sale and not sold yet.  In Larimer County it is $848,000 and in Metro Denver it is $1,100,000.

 

You might be asking, why have prices appreciated to this level?  Quite simply, supply and demand.

 

The Front Range has a healthy, growing economy plus an incredibly high quality of life.  Meanwhile, standing inventory is low which results in upward pressure on prices.

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Listing Averages

While a lot of attention has been paid to increasing sales prices along the Front Range, it is also interesting to look at the average price of properties currently listed for sale.

Did you know, for instance, that the average list price of all the properties currently for sale in Metro Denver is $887,000. Meanwhile, the average closed sales price is $613,000.

In Larimer County it is $793,000 versus an average closed sales price of $601,000.

In Weld County it is $669,000 versus $488,000.

What is causing this? The high number of high-end properties currently for sale pulling up the average.

You might be surprised to hear the number of $1,000,000-plus listings active listings in our market looks like this:

  • Metro Denver = 527
  • Larimer County = 75
  • Weld County = 44

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