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- Updated on May 1, 2017 -
Inventory of homes increased by 12% last month, while home sales saw a 42% increase. In early to mid April, 4,937 homes were on the market. This was 10% higher than during the same time a year ago. The data supports what I'm seeing on the streets, that the 2017 Spring Market is now in full swing.
With the added influx of those new listings hitting the market, inventory has gotten a much needed boost to help quench the strong Spring Market demand.
Homes are spending an average of 28 days on the market, which is four days less than last year. Continued strong demand resulted in the supply of inventory decreasing to just 5 weeks.
After remaining relatively unchanged over the last several months, home values jumped by almost 6% month-to-month, and 9% year-over-year. The average price of a condo/townhome was higher as well, at 10% year-over-year.
Till next month,
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Data for our Average Home Price And Trends Report is provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu
Michael Dagner is an expert in Denver-Area home sales.
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