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In April, Denver-area homebuyers purchased homes on the market within an average of 20 days alongside the average single-family home prices reaching a record-high $543,058.
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The average and median single-family home prices in metro-Denver both continue to set new record highs, reaching $543,058 and $455,000 respectively. Furthermore, in April, new listings surged, up 4.88 percent from last year, with homes being placed under contract up an equally healthy 5.58 percent.
"This demonstrates homebuyer demand remains robust," said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver REALTOR®. "As new listings poured into the market, buyers that were waiting for them quickly gobbled them up, driving the average days on market down to 20 days. Housing activity remains strong, but increasing interest rates, increasing housing prices, low inventory and now increasing gas prices, will have an eventual impact."
According to Danyliw, while overall inventory is seasonally up, it's down compared to April of last year with the single-family segment being the primary contributor. The condo market is hitting its stride, as more homebuyers look for affordable options.
By the numbers, active listings in the residential market (single family and condos) were at 5,160 total units in April. The number of sold listings decreased by 4.88 percent compared to the previous month and dropped 8.97 percent year over year.
Year to date, 15,387 homes have sold, down 4.27 percent from 2017. The condo market continues to see a steady drop in days on market, decreasing to 18 days compared to 19 year over year. The most active price segment for the single-family market was the $500,000 to $749,999, and $200,000 to $299,999 for condos.
In the single-family home segment, there are more listings now available between $500,000 to $750,000 than all of the price ranges below $500,000 combined.
The year-to-date average sold price hit $517,395 for the single-family home market, up 11.2 percent from last year, with the median sold price at $439,828, up 9.96 percent. The condo market continues to outperform the single-family market with the year-to-date average sold price of $348,951, representing a 13.52 percent increase over 2017. The median price of condos sold also increased by 14.34 percent to $295,000.
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Some of Our Current Red Door Group Listings!
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| $470,000 |
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OPEN HOUSE
Saturday May 12 from 1-3pm!
Brighton East Farms BEAUTY! Live here, and you will enjoy all the benefits of this great 2-story home on the largest home-site in the neighborhood! This residence has a nice open floor plan with gourmet kitchen, great center island, 42 inch upper cabinets, and a sunny dining area. The cozy gas fireplace is located in the family room and there is a living room that greets you as you come in the front door. The upstairs has 4 bedrooms plus a study niche perfect for an office area or homework center. The master bedroom includes a 5 piece bath, walk in closet with upgraded closet organizers, and a ceiling fan. Plenty of parking with a 3-car garage and and area to park your RV. Perfectly located near shopping, parks, and restaurants.
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$1,795,345 |
If you've been waiting to live in the quiet, prestigious community of Bow Mar, here is the opportunity you've been waiting for! Spacious ranch with award winning landscaping that includes a waterfall, pond, gas fire pit, fenced yard and gorgeous flower gardens that cover the entire acre lot! There are multiple upgrades and updates to this 1950's ranch that make it move in ready with luxury features throughout. This home also has multiple distinctive qualities including a pull-through oversized 4 car garage, hidden bathroom in the study...
Read more...
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| $438,000 |
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This fantastic and spacious town home is in an extremely sought after community in Broomfield. This beautiful ranch home boasts an open floor plan that is bright and inviting with 4 bedrooms and 3 bathrooms. It is located in a quiet yet friendly neighborhood and just steps away from a beautiful lake where bird watching is a hobby. HOA fees include an indoor and outdoor pool along with a fitness facility. If you want a wonderful home in an established neighborhood, surrounded by walking paths do not miss this opportunity!
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$490,000 |
Wonderful 2 story home in Serenity Ridge! Location - Location - Location!!! This home is perfectly situated on an oversized corner homesite, on a cul de sac, and backs to open space. This home has a great floor plan with 4 bedrooms upstairs, a great room, gourmet kitchen, study, and an unfinished full basement. This residence also boasts some extra great features like the 3 car garage with 8 foot tall doors, a cozy gas fireplace, and granite countertops. Living in Serenity Ridge, you will love how close you are to Southlands Mall, numerous restaurants, shopping, schools, and close access to E470 and DIA.
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| $689,995 |
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OPEN HOUSE
Sat & Sun May 12 & 13
From 11am - 3pm
Move in ready! Full landscaping complete! Expansive elegance for gracious living. The Chatfield's stately covered entry leads to the breathtaking foyer, offering a clear line of sight to the impressive great room beyond adorned with a cozy fireplace and soaring cathedral ceiling extending out to the spacious covered patio. A luxurious kitchen with adjoining breakfast area is equipped with a center island and breakfast bar, ample counter and cabinet space, and an oversized walk-in pantry. The remarkable master bedroom is graced by a marvelous master bath, boasting a Roman tub, large shower, dual vanities, and spacious walk-in closet. Additional highlights include a private study suitable for home office use, and a butler pantry allowing for discreet access to the formal dining room from the kitchen.
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