Monday, April 19, 2021

Denver Real Estate Market Update April 2021!

Denver Real Estate Market Update April 2021!

Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado!
Selling homes from $30,000-$105,000 Over Asking Price in 2021! Don't Miss Your Opportunity Call or Text Today! 303-949-2755
We have completed the First Quarter of 2021 with unprecedented numbers for Average Prices and Pending Activity!
This is a bit crazy, but the Average of Price of a Single Family Home in March 2021 was $674,990, which is compared to just $565,745 last year at this time! (That is a 19.3% Increase)
- A year ago could you have imagined that the price of a Single Family Home in the Metro Denver Area would be up 19.3%?
We commonly call this phenomenon a huge Inventory Shortage, but this data suggests that New Listings are pretty abundant, so the bigger picture is not an Inventory Shortage as much as it is a Demand Surplus!
- The Market wants to buy homes, and they want to buy them now! The desire for more space, and to be in a forever home is at a record pace, as the Luxury Market has Closed 852 homes YTD vs 499 last year! (That is up 71% YTD)
Here is the latest:
- Even LOWER Inventory than Last Month at 1,921 Active Listings for Homes, Townhomes & Condos in all of the Metro Denver Area, which is down 66.74% from a year ago!
- The Average Price of a Single Family Home at $674,990 is up 6.7% from homes sold just last month!
- The Average Price of Townhomes & Condos at $416,775 is up 8.17% from a year ago.
- Over $622,436,619 of Luxury Homes sold in March which is up 78.43% from 2020!
Our Inventory remains at ONLY 1,122 Single Family Homes!
- This is a 70.70% decrease from this time in 2020! The average price increase of all Residential homes detached and attached is up 15.26% 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!
We may see some beginnings of more balance in the market, as we should see more Inventory come to the market now that the Easter Holiday is past and the Spring/Summer markets are in full speed!
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!






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