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Average Home Price &
Metro Denver Market Report
The Denver Metro Area housing market is carrying its positive momentum into March. Demand for homes remained strong with 2,939 homes sold, up six percent compared to last year.
Inventory remains tight, which is why sales are below actual demand. Statistics show only 3,974 new listings came to market last month, which is significantly less than at this time a year ago - a 25% decrease to be exact! At our current pace, there aren't enough listings on the market to last more than 6 weeks. Generally speaking, we need 3 times this amount to break into a healthy market.
The current round of home buyers are motivated and they're being pressed by rising prices and the prospects of higher interest rates. Rates have increased marginally over the past several months under the new administration, and we expect more increases to come. See Today's Interest 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.
Michael Dagner is a real estate professional in Denver, Colorado.
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir