In the Mile High City, taking a home from listing to the closing table happens, on average, in as little as 41 days. According to Trulia, that’s one of the shortest turnaround times in the country
Denver Market Spring Highlights
The most recent data from the Denver Metro Association of Realtors (DMAR) shows the spring selling season is off to a strong start in Denver, with sellers going for top dollar and buyers continuing to gobble up inventory.
How are things looking in Denver overall? Check out the highlights from DMAR’s latest report.
The average price of a home sold in metro Denver jumped another 3.8 percent in March to $522,277.
The median price of a single-family home sold in March rose 1 percent — to $440,875 — from February and is up 8.5 percent year-over-year.
Condo activity was slower, with a 1.5 percent increase in the average price to $351,044 and a 1.7 percent drop in the median to $295,000 last month.
For all homes, the number of new listings surged 36.4 percent to 6,355 in March from February but is down nearly 500 listings from the 6,831 that hit the market in March 2017.
The inventory of homes and condos available for sale at the end of March was at 4,619 units, up 13.1 percent from February but down 6.1 percent from a year earlier.
The number of sales in March increased by 26.74 percent to 4,213 from February but is down 12 percent from a year earlier.
It’s a tight market in Denver and potential buyers need to be ready to move fast. Still, there are good deals to be found in the Mile High City, if you know where to look. Ready to check out what Denver has to offer? Contact Metrowest today – we’d love to show you around!
Paul Jevne was born and raised in Central Wyoming. Upon leaving High School he began a career in the oilfield. Here he developed an excellent work ethic. Paul soon realized he didn't want to continue ....