April Real Estate Market Report: Denver Metro Area

As the weather warms up, the Denver real estate market usually tends to heat up as well.  This year, the market is still inconsistent, with some listings selling very quickly for over the asking price and others lasting on the market much longer than sellers would prefer.  On a year-over-year basis, most metrics show the market cooling down slightly.  For example, the number of active listings was up about 11% (which is great for buyers), but the number of homes sold was down about 11% (not ideal for sellers).  Showing activity was down about 10% (not great for sellers), and days on market were up about 10% (more power for buyers).  In spite of these numbers, prices ended up rising about 5% YOY.  

When you look at the market on a month-over-month basis, though, the data is more encouraging for sellers.  The median days on market decreased by 50%, the number of pending listings increased by roughly 34%, the number of homes sold increased by about 18%, and the median sale price increased about 3%. There are still lots of opportunities for buyers out there, but the competition is starting to heat up compared to last month.  

As always, if you're thinking about buying or selling a home in the coming months, the best way to ensure you are able to achieve your goals is to work with an award-winning team like ours who can help you navigate the complexities of this market. Contact us today so we can make a customized plan to help you achieve your real estate goals!