2016 in review: Denver real estate got pricier, but fewer homes sold

Houses in Aurora, seen from I-70. Jan. 5, 2016. (Kevin J. Beaty/Denverite)residential real estate; snow; weather; cowx; denverite; denver; colorado; kevinjbeaty;
Houses in Aurora, seen from I-70. Jan. 5, 2016. (Kevin J. Beaty/Denverite) residential real estate; snow; weather; cowx; denverite; denver; colorado; kevinjbeaty;
Houses in Aurora, seen from I-70. Jan. 5, 2016. (Kevin J. Beaty/Denverite)

Time to close your long-standing 2016 real estate betting pools and settle up, the Denver Metro Association of Realtors January trends report is in.

 

If you had a lot of money riding on Denver real estate continuing to shatter records, bad news. While the metro is definitely still hot, fewer single-family homes and condos sold this year.

In 2016, 428 fewer homes sold.
In 2016, 428 fewer homes sold.

The number of days that available homes were on the market went up in 2016 as well. So not only is the figure slightly less jarring than during 2015, there were about three more days to snap up a home on average.

Homes were on the market for three more days on average during 2016.
Homes were on the market for three more days on average during 2016.

Sounding pretty good for a prospective homeowner, except for the most important part — cost. Prices for single-family and condos continued to rise during 2016.

The median sold price for single-family homes went up 8.54 percent and the median sold price for condos went up 14.44 percent in 2016 as compared to the previous year.

Median sold prices went up nearly $36,000 from 2015 to 2016.
Median sold prices went up nearly $36,000 from 2015 to 2016.

Now, go forth and start new betting pools on Denver’s 2017 real estate market.