Friday, March 12, 2021

Denver Real Estate Market Update March 2021

Denver Real Estate Market Update March 2021

The words of the new year continue to be Wow and Unbelievable!  

A year ago could you have imagined that the price of a Single Family Home in the Metro Denver Area would be up 17.26% from February 2020 to an Average Price of $630,227?

Here is the latest:

  • Even LOWER Inventory than Last Month at 2,024 Active Listings for Homes, Townhomes & Condos in all of the Metro Denver Area, which is down 58.14% from a year ago! 
  • The Average Price of a Single Family Home at $630,227 which is up 17.3% from a year ago! 
  • The Average Price of Townhomes & Condos at $399,262 is up 10.23% from a year ago. 
  • Over $368,000,000 of Luxury Homes sold in February which is up 54.25% from 2020!

Our Inventory has shrunk to ONLY 1,120 Single Family Homes

  • This is a 65.01% decrease from this time in 2020!  The average price increase of all Residential homes detached and attached is up 17.26% year of year.

There is no better time to list your home and take advantage of an unprecedented Seller’s Market! With interest rates near all-time lows there are opportunities for Buyers as well with the right strategies!

The Market is moving differently in certain parts of town, but much of the Buyer demand has been moving in the suburbs, Douglas County, the Foothills and the Luxury Market!  Low Interest rates continue to help drive the demand! 

Please let me know if you have any questions or would like any more specific information, feel free to forward our market update to everyone you know and spread the word that real estate is open for business!