March home sales data: Time on the market plummets for new listings businessden.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessden.com Daily Mail and Mail on Sunday newspapers.
The association describes the current scenario as an unwavering seller s market, and it s got the figures to back that up. In the past, many buyers have waited out the winter before getting more serious in the spring about making purchases. This year, however, the typically slow cold-weather months were red-hot, suggesting that the next few months will be even crazier than usual.
Low inventory is certainly an important driver behind what s happening. Active listings for detached homes in Denver at the end of March stood at 1,122, a bump of just two from the 1,120 in February, but more than 70 percent lower than the 3,829 available homes counted a year earlier.
Denver real estate agent says offers $90K and $100K over asking price lost
Detached homes are still in high demand, but attached properties are also seeing a spike in demand, according to Denver Metro Association of Realtor s March report. Author: Wilson Beese Updated: 10:03 PM MST March 3, 2021
DENVER Homes in the Denver metro housing market continue to fly off the market as March begins, according to the latest report from the Denver Metro Association of Realtors (DMAR).
Speed continues to be an important factor for potential buyers facing heavy competition, with homes lasting 23 days on average, and just five median days, on Multiple List Service (MLS) listings.
Metro Denver Home Prices Still on Crazy Rise westword.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from westword.com Daily Mail and Mail on Sunday newspapers.
January home sales data: Average price, low inventory set records
BusinessDen file)
It’s expensive to be a homebuyer in the Denver metro area.
The average price of a single-family home reached a record average price of $629,159 last month, according to the Denver Metro Association of Realtors’ monthly market trend report. The median price was $510,000.
Attached properties also hit a record average price of $397,792.
“I see prices going up at least through the summer; I can’t see how they wouldn’t,” said Andrew Abrams, DMAR’s chair of the market trends committee and broker/owner of A-Squared Real Estate. “They’re dictated by supply and demand, and supply is relatively low while demand remains incredibly high.”