Apr 01, 2016

Average Home Price 
& Monthly Housing Report

Last month's report had both prices and sales down. This month its just the opposite. There weren't any big surprises or changes, but everything's pointing up again. Sales rose about 2% overall. Single family home prices were up slightly about 1/2 a percent, while condo prices were up almost 4%.

Denver's inventory level has dropped again to about 1.5 months supply. That's a huge reason for why the number of sales has been slow at this normally 'busy time' of the year. With April and warmer temps here, Denver's Spring market has officially kicked-in. The expectation is that we'll see a greater number of listings hitting the market very soon now. Just like with the last few years, this ought to be another busy selling season. Prices are expected to rise along with the number of homes sold through mid-summer, as long as inventory remains low.

On the 'new home' front, there are many opportunities to have a new home finished yet this summer. Certainly by year-end, if you'd like to start from scratch. Interest rates remain extremely low. With the steady rise in resale (used) home prices, but not correspondingly as much for new homes, many move-up buyers are discovering that they can easily transfer their equity into a brand new home. Let me show you the possibilities.

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.