Denver Real Estate Market Update
Housing inventory has been at record lows in the Denver area so you may be excited to hear that at the end of March Denver saw an 81.16% month over month increase in housing inventory. That sounds like quite an increase, and although it’s great news, it doesn’t mean the battle over houses is over. Even with this increase the month ended with just 2,221 homes on the market. This is only about 2 weeks of inventory.
The good news is that March saw more new listings than homes that went under contract.
Plus, things are looking better for 2022 than 2021 if we look at new listings and closed homes. In March Denver saw 6,020 new listings this was up 5.59% over March of 2021. 4,440 homes sold in in March, down 15.72%. If we see a trend of more listings than 2021 in the months ahead, along with lower sales, we will see a much needed increase in inventory in the Denver market.
Average sales price for a single family home came in at $797,700 and attached homes at $495,937.
Buying or selling a home in the Denver area? Contact Courtney Murphy at 720-476-0370 or cmurphyRE@gmail.com. Courtney is a Denver metro Realtor with experience in both resale and new built home sales.
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