Home prices last month were at record levels for an October. Since 1992, prices in the Denver area have risen 8.3 % on average during an election year, according to a report by the Denver Metro Association of Realtors.
Our local real estate market remains strong. In fact, it has surpassed averages of previous election years. The average sale price of single family homes was up 9.27% from last October, rising from $402, 855 to $440,184.
The sale price of condos rose more than that of single family homes. Their average sale price was up 11.81%, from $262,669 to $293,678.
Luxury home sales over $1 million showed the largest gains of 19.53% over the past year. The average price per square foot was up 4.69%, from $277 to $290. It appears that our local market is holding steady, regardless of the election outcome!
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