Spring 2019 is shaping up to be a buzzing time of year with buyers taking advantage of lower interest rates and increased home inventory. Historically, March kicks off the busy real estate season, with April riding the wave of increased Denver home sales - and this year is no exception.
The Start of Spring Real Estate Season - Month Over Month Trends
March brought more home sale activity and shorter days on market, as compared to the winter months. In fact, the number of sold homes increased by 20% since February and listings spent 20% less time on the market (on average). Together, these two stats show that more buyers are heading out to find their new abodes and listings are being snatched up quicker now that the April sun is shining. It is spring real estate season, for sure!
The Denver Real Estate Market is Stabalizing - Year Over Year Trends
Even with the uptick in activity, Denver real estate data continues to show an increasingly stabilized market, with buyers regaining some of the power they'd lacked during Denver's listing shortage in years past. As compared to March of 2018, 12% less homes were sold and listings spent 15% more days on market (on average). And, while the average home price increased by almost 4% since last month, the year over year increase is just shy of 2%.
It seems as though record-short days on market and record-low inventory are things of Denver's past - at least for now. But despite the leveling of buyer and seller scales in the Metro Denver area, most urban price points maintain a slight seller's advantage.
Thank you toColleen Covell,Live Urban Real Estate Realtor, for starring in our April 2019 market stats video.
Recommended Reading
2019 Denver Real Estate Predictions
3 Reasons Why it's a Great Time to Buy a Home
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