Home Sales Slow But Prices Continue To Rise

Dated: 05/18/2017

Views: 406

Image title


According to a recent report from the Denver Metro Association of Realtors (DMAR), home sales in metro Denver experienced some slowing in April, but it didn’t prevent home prices from reaching record highs. In what may be bright news for potential sellers, the average price of a single-family home sold in metro Denver reached a new high of $487,974, which is up 4.2 percent from March and 10.3 percent from a year ago.


DMAR’s analysis indicated that buyers closed on 4,389 residential properties last month, which is a 7.4 percent decrease from the number of homes sold in March and down 4 percent from the same month a year ago.


The median price of a single-family home sold jumped to $420,000, up 4.2 percent from March’s median price of $406,500 and 9.1 percent higher than a year earlier.


Condos prices weren’t rising quite as fast in April, at least compared to single-family homes. The average price of a condo sold in metro Denver increased 0.94 percent to $318,478 from March, while the median price rose 3.85 percent to $270,000.


In terms of inventory, the number of homes and condos available for sale at the end of April rose 8.9 percent from the 5,361 on the market at the end of March, a much larger percentage increase than is usually seen between the two months.


Though sales cooled a little, homes that did sell went very quickly and received multiple offers. According to DMAR, half of new listings sold within eight days last month, and many went faster than that.


Selection in Denver may be on the lower side, but there are definitely great properties to be found. If you’re ready to head down the path of homeownership contact Metrowest today – we’d love to help you start the process.

Blog author image

Ken Blevins

Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....

Latest Blog Posts

Best Neighborhoods For The Money In Denver

As Denver residents know all too well, the Mile High City is experiencing growth and expansion like we’ve never seen before. If you’re considering jumping into homeownership, according to

Read More

Denver Home Prices Set Record In 2017

According to the most recent data from the Denver Metro Association of Realtors (DMAR), home sales and prices in metro Denver once again hit record highs in 2017. We also broke records in terms of

Read More

Round Up Of Denvers Hottest Neighborhoods

With so much growth in the Mile High City and suburbs, just where is everyone moving to? According to “Hot Hoodz,” a recent report released by Boulder-based zavvie, a national HyperLocal and

Read More

November Sees Higher Home Prices Lower Inventory In Denver

It’s a bit of a double-edged sword in Denver for sellers. If you’re headed elsewhere, now is a great time to sell, but if you’re looking to relocate within the Denver metro area, depending on

Read More