Denver metro area real estate sales picked up significantly in March as buyers got a head start on the selling season.
Sales of residential properties were up 31 percent for March 2014, with an average price of $310,992, up 5% over February. Under contracts also showed strong gains rising by 34 percent, month over month.
Additionally, homes spent less time on the market in March, with the average listing lasting just 47 days, an 8 percent decrease from February.
"We're seeing buyers and sellers moving early this year," said Kirby Slunaker, President and CEO of Metrolist, Inc. "Fortunately, while the market is moving quickly, there's an increasing inflow of new listings, which is a positive sign for buyers."
Compared to last year, the number of active listings in March was up 21 percent. March home sales were down 13 percent, year over year, and the number of listings under contract decreased by 6 percent.
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