Strong Start to 2015 Real Estate Season

March 2015 Statistics Signal Start of a Strong 2015 Home Buying and Selling Season

DENVER – April 7, 2015 – REcolorado, Colorado’s largest MLS and the provider of REcolorado.com, today released its March 2015 report on the Denver-area housing market, which includes data from REcolorado’s 17,000 members who operate throughout the greater Denver Metro area. The March report shows increases across most major indicators, signaling the start of what is shaping up to be a very active and competitive selling season.

March brought 6,247 new listings to the market, a 38 percent increase as compared to last month, and three percent more than this time last year. However, new listings did little to ease the inventory crunch. In March, there were 5,166 active listings on the market, a two percent increase over last month and 24 percent less than March of 2014.

Inventory and Home Sales Graph March 2015
“The Denver area’s tremendous growth, strong economy, and low unemployment rate, along with interest rates that are remaining near historic lows, are keeping demand for housing very strong in our market,” said Kirby Slunaker, president and CEO of REcolorado. “We saw an impressive number of new listings come on the market in March, which was a welcome sign as we kick off the 2015 buying and selling season.”

Eager home buyers quickly scooped up the active inventory and, in the process, sent home sales soaring. In March, 4,140 homes sold, a 46 percent month-over-month increase and one percent higher than compared to this time last year.

Average Sold Price Graph March 2015
The continued demand for homes, coupled with low inventory levels brought an increase in average sold prices. In March, the average price for a single family home increased $9,784 or three percent in one month. Average sold price is up 15 percent as compared to this time last year.

Denver’s competitive housing market brought another month where the sales cycle was extremely fast. In March, homes spent an average of just 33 days on market, six days shorter than last month and 14 days fewer than March 2014.

About REcolorado

Since 1984, REcolorado has been focused on providing the most accurate and up-to-date real estate information for professionals and consumers. Updated every 15 minutes with new and sold listings and powered by the state’s largest network of real estate professionals, REcolorado.com is Colorado’s most accurate home search tool. REcolorado.com also offers consumers mortgage resources, information about Colorado neighborhoods and cities, sold listings, open houses, and a comprehensive database of real estate professionals.

REcolorado is the largest Multiple Listing Service (MLS) in Colorado. With 16,000 professional members who operate throughout the state, it is REALTOR® owned and serves Aurora Association of REALTORS®, Denver Metro Association of REALTORS®, Mountain Metro Association of REALTORS®, and South Metro Denver REALTOR® Association.