The Denver Metro area, retaining its title as the hottest housing market in the country for the second consecutive year, continues to showcase its robustness amidst fluctuating inventory levels and unprecedented challenges like rising property insurance rates due to natural disasters. With a blend of low unemployment, minimal mortgage delinquencies, and a favorable environment for investors, Denver’s real estate market stands as a beacon of strength and opportunity. This is even despite the hurdles of high insurance premiums and the innovative financial solutions like temporary buy downs emerging to counteract high mortgage rates.
In the dynamic landscape of the Denver Metro Real Estate Market, the latest report unveils a series of compelling insights that echo the market’s resilience and challenges. At the heart of these findings is a clear trend: move-in-ready homes, priced correctly, are not only selling faster, but are also attracting multiple offers, highlighting the high demand for turnkey properties. Conversely, homes that do not meet this ‘ready to move in’ criterion face a tougher road in attracting buyers, emphasizing the importance of property condition in the current market dynamics. Review the statistics below and see how they compare from previous years, to even just last month.
Home Prices Up 6.89% Percent From Last Year
- In April 2024, the average residence sold for $727,700
- The average single-family home sold for $816,201
- Whereas the average attached home sold for $474,708
April Interest Rates Update
The Bottom Line
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 6,990 attached and detached homes available in the entire Denver Metro area. Pushing just over a 50% increase in available properties from this time last year in April 2023. Meanwhile, affordability remains in the same range we’ve been seeing over the last year. The median sales price is $602,550 this past month, a little under a 4% increase from 2023.
There are 5,980 new homes hitting the market this Spring season, showing a 1,000 property increase from just last month. The average days on market the Denver Metro area is experiencing has dropped 25% since last month.
Unsure about how these stats impact you directly? Get a comprehensive market analysis of your particular neighborhood, and don’t miss out on utilizing a Usaj Realty expert as the numbers in each part of town vary greatly.
Quick Stats
The April Denver Housing Market Quick Stats covers active listings, highs and lows, and new listings with direct comparisons to previous record breaking reports below:
What makes Usaj Realty stand out?
Founded in 2011, Usaj Realty takes pride making our home sellers and buyers goals, our own. We are with you from the beginning to create financial stability, and ease of mind from start to finish. We know the importance of securing generational wealth for the future, and we believe we’re the best fit for the job. Get in touch with our outstanding agents today to receive guidance on the February Market Stats and the flourishing Denver housing market coming with the warmer weather.
