The Denver Metro area saw a 27% month-over-month increase of home sales in March, signaling that the home buying and selling season is underway!
Housing Market Trends in Denver
Home prices continue their steady climb up, though with less dramatic year-over-year rises. Average sold prices were up across the board, both month over month and year over year, for both condos/townhomes and detached single-family homes.
Despite fewer home sales compared to this time last year, more home went under contract with a 6% year-over-year increase. On average, homes spent 48 days on the market with a median of only 11 days.
For more detail, see the detailed Housing Market Statistics Report on REcolorado.com.
Competition for Many Homebuyers
The $300-500,000 price range continues to be the most competitive, with fewest days on market and most activity. Nearly half of all new listings (45%) and sales (51%) fall in this price range.
Because many first-time homeowners fall into this price range, it is even more important to work with an experienced local real estate agent. Your REALTOR® can set up searches to find your dream home as soon as it hits the market. Then, they’ll assist you throughout the home buying process – from making a competitive offer all the way to the closing table – to make real estate simple.
Find more useful tools – from mortgage calculators to neighborhood information – with the Colorado Home Buyers Guide.