Denver Real Estate Market Update - March 2017

By
Real Estate Agent with The Bandy Team - EXP Realty

Demand Keeps Metro Denver Housing Inventory Low 

According to the latest data from REcolorado, the inventory of available homes for sale in the Denver Metro Area is at all-time lows, despite an influx of new listings that came on the market in February.


Thanks to continued strong demand, inventory of available homes for sale in the Denver Metro area dipped once again in February. The month ended with 4,405 listings of homes for sale, 12 percent lower than this time last year. Inventory levels remained tight even with the addition of 4,565 listings of new homes for sale, an increase of 20 percent as compared to last month and seven percent more than last year. In February, the supply of inventory in the greater Denver Metro area decreased to approximately six weeks.
 


Home sales in the Denver Metro area saw a slight dip in in February, with 3,114 homes sold, three percent less than last month and three percent lower than February 2016. On average, homes are spending 43 days on the market, which is two days less than in January and three days less than this time last year. 

 

Home values were relatively unchanged in February, with sold price of a home averaging  $400,635. As compared to last year, the average sold price is seven percent higher. In February, the average price for a single family detached home was $446,005, an increase of eight percent as compared to last year. The average price of a condo/townhome was $296,815, a year-over-year increase of five percent.


  
Click here to read our new Denver Market Trends Report.

 

If you have any real estate questions, feel free to contact your metro Denver real estate professionals, The Bandy Team! Our team will guide you through all phases of home buying and home selling process in Denver. 

 

We are here to help you find your dream home and will guide you every step of the way! 

Search all metro Denver homes and real estate for sale. 

Until next time, 

Marianne Bandy, Team Leader 
The Bandy Team 
 EXP Realty 
DenverHomeSearcher.com  - Denver Real Estate & Homes 
720-466-3790

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Colorado
Groups:
Realtors®
Blogging & SEO
Colorado Realty Bloggers
Colorado Real Estate
Tags:
denver real estate
denver real estate market

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,981,185
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thank you for sharing the ongoings of Denver's local Real Estate Market, Marianne!

Mar 30, 2017 05:10 PM #1
Ambassador
1,485,781
Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for taking the time to share this.  This is very beneficial for those interested in buying or selling real estate.  This is the type of information they need to make informed decisions.

Mar 31, 2017 06:20 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
485,090

Marianne Bandy

CRS, GRI, Certified Negotiation Expert
Ask me a question
*
*
*
*
Spam prevention

Additional Information