Apr 01, 2015

March 2015 Denver Housing Report

Average Home Price - Metro Denver

Updated on March 1, 2015

Average Home Price 
& Monthly Housing Report

There really weren't any surprises in the Denver real estate market during February. Sales were down and housing inventory didn't get off the ground, but that's pretty typical for most of our past Februaries.  

Media reports say that Denver's housing market is "hot", but that's all relative.  It may be 'hot' for for some, especially sellers who love the rising home prices, but its NOT HOT in terms of the number of sales.  Home sales have actually been way down.  

Last month, I mentioned that Denver's housing inventory was at rock-bottom levels.  This extreme low inventory has continued into February, primarily due to the cold weather and that has kept many homeowners - unmotivated.  March and April are typically the two kickoff months every year when we see homeowners break-out of their winter hibernation and put their homes up-for-sale.  We'll have to wait and see if 'hot' translates into a greater number of sales this Spring.

In other stats, the median home price remained about the same as last month, but the 'average home price' dropped a little from its peak in December. There were no significant other changes to report.

On the 'new home' front, I visited a number of new home communities over the past 30 days to see what's happening with their inventories.  Although new home sales have been brisk, there still remain many opportunities to buy a new home and have it completed in a short or reasonable time. If you've always wanted a new home, now's as good a time as any. Interest rates are holding at very low levels, and that will allow you to buy the new home you've been dreaming of.

Be sure to read Today's Rates, below.   Till next month,

If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other circumstance, please let me know. Call or email. I look forward to helping those you know, because they trust you and appreciate your referral. 

Average Home Price & Solds Graphs

Average Home Price, Inventory, & Days-On-The-Market Graph

Michael Dagner

Michael Dagner is a real estate professional in Denver, Colorado.