Demand from home buyers remains strong as the housing market heads towards peak buying and selling season. Month-over-month comparisons show the housing market picking up this spring, with 35% more home sales in March 2018.
Is Denver’s Housing Market Slowing Down?
The housing market in Greater Denver Metro Area is picking up speed as we head into April. Spring and summer are typically the busy seasons for home buying and selling in Colorado. Comparing the housing market statistics from March to February shows an increase in activity.
However, March 2018 shows some decreases compared to the same time last year. Both home sales and new listings dropped slightly compared to March 2017 levels. March ended with 4,593 active listings of homes for sale, up 10% from last month, but down 7% year-over-year. See more detail in the REcolorado Market Statistics Report for March 2018.
Home prices continue a steady climb upwards. The price of a single-family detached home remained above the half-million dollar mark for the second month in a row, reaching $520,963 in March.
Colorado home buyers can’t relax yet. Homes continue to sell very quickly, with median days on market of only 6 days.
How can Home Buyers Keep Up?
Homebuyers need to be the first to know and be ready to act fast when the home they want comes on the market. With custom search tools, Colorado-specific search criteria, and email property alters, Colorado home buyers can know within minutes when a new home that fits their needs comes on the market.
Is Now the Best Time to Sell your Home?
If you’re considering selling your home, first, connect with a local REALTOR®.
Your real estate agent can help you understand the current market conditions and the potential value of your home. With local expertise and industry experience, they can help you determine what steps are necessary to sell your home.