The Denver residential real estate market has certainly sprung into action for 2018!
- The average sale price in Denver County was $484,985 in February 2018, up a whopping 17.6% (or $72,624 per property on average) from the same month a year prior.
- The median Days On Market in Denver County in February was just 7 days.
- Inventory levels remain incredibly low–there is currently just 1 month of inventory in Denver, meaning if no new homes were to hit the market, it would only take 1 month for every single one of the currently available homes for sale to sell. (A balanced market would have 6 months of inventory.)
The lack of supply is why it feels like such a strong seller’s market, why bidding wars are so common (particularly in the lower price ranges), and why we believe that, barring something calamitous happening to the economy, prices are going to continue to rise for the foreseeable future here in Denver.
It is a great time to be a seller or a buyer, so contact us today if you’d like a more detailed update or if we can be helpful to you or anyone you know in any way!