First-quarter residential sales rise 16 percent in Colorado

another Denver Post article I'm seeing similar trends for the most part.

First-quarter 2013 sales of single-family homes, condominiums and townhouses increased 16 percent year over year in Colorado to 18,343 units, according to a report released Wednesday by the Colorado Association of Realtors.

New listings dropped slightly more than 7 percent statewide, primarily because of drops in metro Denver and the mountains, while the median sales price rose nearly 15 percent to $225,000 compared with the first quarter of 2012.

Days on the market continued downward, dropping 22 percent to 90 days on average.

The statewide number of active listings for the first quarter was 30,114, representing a 4.1-month supply.

"These figures are quite similar to what we reported last quarter and demonstrate consistent patterns that speak to a steadily recovering market in Colorado," said CAR spokesman Michael Welk.

Welk said the association is seeing more sales, increasing median pricing and fewer days on the market consistently over the past three quarters compared with previous years.

"In many areas of the state, sellers are receiving as much as 98 percent of the asking price on average and seeing their homes sell very quickly," said Welk. "Similarly, buyers continue to face significant competition in most areas."

In metro Denver, which includes Denver, Jefferson, Adams, Arapahoe, Broomfield and Douglas counties, sales rose 18 percent, while the median price jumped more than 16 percent to $240,000.

Prices rose consistently throughout 2012, a trend that continued into the first quarter of this year in metro Denver.