The latest data from REcolorado show steady trends in the Greater Metro Denver Area housing market this February. While home sales remain unchanged year-over-year, average sold prices continue to increase. New home listings rose year-over-year, but with median days on market of only 7 days, homes continue to sell quickly across the Denver area.
Low Inventory or Fast Market?
Colorado’s housing market continues to favor sellers. Buyers must be prepared to quickly scoop up new listings as soon as they hit the market. This fast-paced market kept inventory in check throughout the month. February ended with only 4,179 active listings of homes for sale or 6 weeks of inventory.
However, new listings of homes for sale that came on the market in February increased year-over-year. While active listings at any one point in time indicate low levels of inventory, more homes for sale continue to come on the market.
Median days on market was two days less than last year at only 7 days. Homes for sale, especially in price ranges with the most demand ($300,000 – $400,000), are selling very quickly. See more detail in the REcolorado Market Statistics Report for February 2018.
Keeping Up with Denver’s Fast Housing Market
Buyers need to be ready for the fast speed of Colorado’s housing market. Working with an experienced real estate agent, home buyers can find new homes for sale as soon as they hit the market. Learn how to beat low inventory and fast-paced markets by checking your email and being prepared to act fast.
Detailed Housing Market Statistics for Colorado Neighborhoods
REcolorado’s Market Watch report looks at home sales from the Greater Denver metro area, which includes Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties.
If you’d like detailed information about a specific city, neighborhood, or zip code, contact your local real estate agent. Your agent has access to powerful tools and local market intel. They can provide you with the detailed information you need for your home search. Find the most up-to-date information about homes for sale on the REcolorado home search site.