April 2024 Denver Real Estate Update
The April Denver Real Estate Update is showering listings on buyers. What will May bring? How will increased inventory affect closings and pricing? Only time will tell. Be sure to check back on the CJV monthly Denver Real Estate Update blog. For now, dive into April:
Active Listings
Active listings surged over 50% from last year. This brings many more choices for buyers in the Denver metro area.
Average Price
The average price increase it’s steady climb to a new record of $727,700. This is an increase of almost 7% from last April’s average price.
Days on Market
Days on Market increased slightly (7%) from last year, but are significantly down from last month. This reflects the rising Spring home-buying activity, though not quite as energetic as last year.
Closed Price to List Price
Closed prices were 99.7% of list price on average. This ratio decreased 0.5% from last year at this time. While still reflective of a seller’s market, with prices close to list price, increased listings give buyers slightly more room for negotiation.
If you are looking for a home in the Denver Real Estate Market, with more choices than in years, now is a great time to buy! Are you thinking of selling? Reach out to your CJV expert to help you strategize in this market, stand out, and see you real estate goal through to the finish!