Denver Real Estate Market Update March 2018
Over the last couple of months we have been breaking records in the Denver real estate market. This month is no exception. The difference is that in the last couple months the records have been broken because of low inventory. This month’s record has nothing to do with inventory. This month Denver saw it’s highest average sales price on record for detached single family homes. The average sales price for detached single family homes in Denver hit over $500,000 in February. Those prices will likely go up through June of this year.
We saw a slight relief in housing inventory. However inventory is still very tight and buyers are still finding themselves in competitive situations.
Average days on the market for a detached single family home came in at 40 for the month of February and 72 days for attached homes. But don’t let these numbers fool you, homes that are in a competitive price range are still going fast!
If you are planning to buy or sell a home in the Denver area contact Courtney Murphy at 720-476-0370 or cmurphyRE@gmail.com.
Thanks for watching and have a blessed day!