April brought another seasonal increase in new listings, pending listings, and sales compared to last month. The count of listings that were actively available for sale at the end of April reached 2,904. It’s the first time we’ve seen active listings above the 2,000 mark since November 2021.
Compared to last April, the number of listings, pending sales, and the number of new listings are up. This is a sign the selling season will continue to be active in the coming months.
What Does This Mean for Buyers?
April brought good news to home shoppers as it was the fourth consecutive month of increases in the number of new listings to hit the market. 4% more new home listings came on the market compared to last April. Like months prior, homes in the Denver Metro Area were only on the market for a median of four days in April. This mean if you are looking to buy, prepare to move quickly.
Visit REcolorado.com to start your home search and connect with an agent today.
What Does This Mean for Sellers?
The current real estate market in the Denver Metro Area is still looking suitable for homeowners who want to make a move. With inventory remaining low and closed prices being driven higher partially due to multiple offers, sellers remain in the driver’s seat in today’s market.
If you’re looking to sell, be sure to contact a real estate professional to get the latest market outlook in your area.
Jaw Dropping Stat
Year over year, home prices continue to see double-digit gains. In April, homes sold for a median of 7% more than the original list price, a 40% increase compared to 2020.