Last February, Denver-area homes sat on the market for about two weeks.
This year, homes were more likely to sell in a mere five days.
The latest report from the Denver Metro Association of Realtors shows fierce competition between homebuyers heading into peak selling season. Demand is especially high for detached homes, which spent less time waiting for offers than the broader market just four days.
The median price hit $475,000, up $20,000 from January, according to the report. That’s a jump of about 19 percent from last year.
Low interest rates and a limited supply of homes for sale is fueling a boom in home prices even as the pandemic shuts down huge swaths of the economy.
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 s crazy housing market is likely to stay, hot hot hot!
Despite COVID, Denver homes sell at record highs
Supply still canât keep up with demand in the metro Denver housing market. New numbers from Redfin show the average home sold in just nine days in January.
and last updated 2021-02-23 08:19:07-05
DENVER â Supply still canât keep up with demand in the metro Denver housing market.
New numbers from the Denver Metro Association of Realtors (DMAR) show the average home sold in just five days in January. Denver was second only to Tacoma, Washington, according to Redfin.
Double-Digit Housing Price Increases Tied to Supply Imbalance in Denver
Expensive homes dominated the metro Denver real estate market in 2020. February 7, 2021, 9am PST | James Brasuell | Metro Denver’s worsening imbalance between supply and demand has 2021 starting out with annual home price appreciation solidly into double-digit territory, reports
Aldo Svaldi, sharing data from a Market Trends Report published recently by the Denver Metro Association of Realtors. The average price of a single-family home that closed in January in metro Denver rose 2.9% from December to a record $629,159, Svaldi writes. That kind of monthly appreciation added up over the course of the year. Annual price appreciation is running a hot 18.7%, adds Svaldi.
Inman Connect
Single-family and multigenerational homes are seeing a massive surge of interest as families are spending far more time together at home. Now that they’re using their homes for work, daycare, school, exercise and even date nights, Americans just want more
space.
But despite the almost-overnight demand for larger homes, we can’t help but wonder whether this trend will reverse-course once a vaccine is widely distributed. As people flee low-square-footage condos, a market opportunity has presented itself for the optimistic buyers who want to live in walkable, dense urban environments that condos can provide.
The attached condominium market is the only market segment experiencing balance. Although not quite yet considered a buyer’s market, condos are sitting on the MLS longer and for lower prices than the detached market.