The latest data from Metrolist announced today, home values in the Denver metro area increased 5 percent in April, while homes continue to be scooped up at a breakneck pace.
Homes put up for sale in the Denver area averaged 56 days on market, compared to 90 days this time last year, marking a 38 percent change. The number of homes sold increased 9 percent from March and 21 percent since this time last year. As a result of high demand from buyers and limited supply of homes, home prices have reached levels not seen since the peak in 2006.
"There's no question the Denver market remains hot," said Metrolist CEO and President Kirby Slunaker. "The numbers we're seeing are aligning with the stories we are hearing from Realtors who are on the front lines. Homes are flying off the market, and in many circumstances buyers are prepared to go above and beyond asking prices in order to secure a home."
Read more at REColorado.com.
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