Colorado’s largest MLS (Multiple Listing Service), REcolorado, has compiled statistics for its April 2019 real estate market update for the Denver metro area. According to their report, every indicator of market strength is higher this year than last and the buying and selling season is in full swing.
Denver Home Sales Set a Record
As you can see on the infographic, Denver home sales volume was up 0.2% in April 2019 compared to April 2018. That may not seem like much of an increase. However, that number is higher than it’s been in more than 10 years. And that sales volume was 12% higher than the month before.
Every indicator of the Denver metro area’s market strength is higher this year than last per REcolorado’s Market Watch Report. This includes home sales, new listings, active listings, and sold prices. You can examine these statistics in depth in REcolorado’s detailed market watch report.
Important News for Buyers
There were more homes for sale in the Denver metro area in April 2019 than the year before. In addition, those homes spent slightly longer on the market. That’s an indication that our current market isn’t quite as tight this year. However, you should be aware that homes still typically sell in around 8 days on the market.
Homes go fastest in the most sought-after price ranges – listings from $300,000 to $500,000 – with the lower-priced ones selling the fastest.
If you want to buy a home this year, I recommend you get in touch with me as soon as possible. I will help you make sense of the market and craft a strategy to get you to your goal.
Important News for Sellers
At the end of April, there were 7,869 active listings for homes in the Denver metro area. That’s almost 40% higher than April of 2018 and 25% higher than at the end of March.
Last year at this time, the market held 5 weeks of inventory. This year, that measure stands at 7 weeks.
While you may be competing against a larger number of homes for sale, that doesn’t mean you should worry. Get in touch with me. I can show you how these market-wide trends are playing out in your specific neighborhood with comparable homes. From there, I can help you make a strategic and informed decision about when and how to list your home for sale.