Denver Real Estate Market Update April 2023
Team Koz Michael Kozlowski Selling Homes for Above Asking Price with Multiple Offers Already in 2023!
We have survived all of the various School Districts Spring Breaks, and have enjoyed a beautiful Easter Season with all of the new flowers beginning to bloom and the grass is getting greener!
Buyers have shown a strong desire to purchase a home, after taking a long break the second half of 2022. Sellers are slowly waking back up, and deciding what their household needs will be this year as well.
Baby boomers have roared back into the market as repeat buyers with equity and now make up 39 percent of homebuyers surpassing Millennials at 28 percent, who held this top spot since 2014! This increase in Buyer activity has kept Inventory lower than expected, but this varies depending on area and price range.
- Days on Market have decreased from an average of 48 last month to 37 this month, and that’s a big change in one month.
- Active Listings are at 4,516 which is up 20% from last month and 103% from this time last year and still lower than expected.
Average prices are sending mixed signals, as the Buyer demand increased last month, we saw the Average Price for a Single Family Home at $743,000 which is up 2% from last month, however Year to date the average price of a single family home is down 2.89%.
Townhomes and Condos were an average price of $475,000 and that is a half percent less than last month, and the same YTD.
This is Primetime in the Real Estate market, so Sellers if you need to sell or are just thinking about it, please call us soon and we can advise you with the best options available to maximize your equity.
Buyers, you will see some the best choices and inventory right now as Inventory grows, and interest rates are more favorable. Please call us today, as we would love to help you get from where you are right now to where you Dream about!
Enjoy this beautiful Spring!
