As the weather warms in Colorado, more sellers list their homes for sale. Active listings climbed above 5,000 for the first time this year in April. Home prices continue climbing while demand from home buyers remains strong.
Home Buying & Selling Season is Here
Beautiful spring weather helped encourage sellers to list their homes for sale. The busy season for home buying and selling typically falls during spring and summer. 2018 statistics are following this trend, with 9% more new listings in April than March. Nearly 7,000 new homes for sale hit the market in April across the Greater Denver Metro Area.
For the first time this year, active listings reached above the 5,000 mark. Active listings of homes for sale were 23% higher than last month at 5,640 at the end of April.
Homes continue to sell quickly as home buying and selling season picks up. Homes spent a median of only 5 days on the market in April.
See more detail in the REcolorado Market Statistics Report for April 2018.
Will Denver’s Housing Market Slow Down?
Home sales remain steady year-over-year. 4,789 homes sold in April, only 1% lower than April of last year. When you look at year to date home sales, sales are only 2% lower than 2017 figures.
Home buyers searching for a home for sale under $500,000 can expect a competitive market. Homes priced under $500,000 sell very quickly, with the majority selling in less than a week. As the price falls, so does the number of days on the housing market.
Homebuyers must be ready to act fast in Colorado’s competitive housing market.
To get a head start, connect with a local REALTOR® early in your home search process. Your real estate agent can connect you with impactful tools, like the REcolorado Client Portal, to find the home that fits you.