Home Prices Increase as Activity Heats Up

Market Trends

April 2019 Metro Denver Market Update

Following a month in which the average price for all homes remained flat compared to the previous year, home prices in March rebounded as increased activity – combined with a modest increase in inventory – pushed prices higher.  

Vital statistics for all homes – detached single family (DSF) and attached single family (ASF) combined – in February include: 

·  The average price was up 3.6 percent from the previous month and 1.8 percent from a year ago;
·  Active listings rose 4.6 percent compared to the previous month and more than 36 percent from this time last year; and
·  The average days on market declined 20.5 percent from the prior month but increased 14.8 percent from a year ago.

Experts are predicting another active market, but they do not expect another record-breaking selling season through the spring and early summer. Inventory levels still give sellers the upper hand at all price points, especially for homes priced under $1 million, but price adjustments are up, demonstrating the importance for sellers to price right and have their homes in move-in ready condition.

If you need any advice or assistance navigating our real estate market, contact me today at 303.710.5817 or ladawn.sperling@coloradohomes.com. I am never too busy for your referrals.

Apr19MarketAnalysis-LaDawn

This update is based on information provided by the Denver Metro Association of Realtors® for the period of March 1, 2019, through March 31, 2019, for the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.