Spring has sprung in Metro Denver, and with it, our real estate market is buzzing with activity, proving its resilience against the backdrop of March’s snowy surprises and spirited spring break festivities. We’re observing a solid performance showcasing a promising horizon for our spring market dynamics, particularly in pricing and competitive bids.
Detached single-family homes in our area are demonstrating a slight uptick in inventory, yet the market remains notably competitive, reminiscent of pre-pandemic vibrancy. The market’s pulse is strong, indicated by a significant jump in pending transactions and closed sales as we march into spring.
On the flip side, the market for attached single-family homes is blooming with an expanding inventory and a heartening influx of new listings, signaling a responsive market attuned to the needs of buyers and sellers alike. These residences too are seeing a pickup in both pending and closed transactions, with prices gently climbing, promising stability and modest growth.
Home Prices Up 4.08% Percent From Last Year
- In March 2024, the average residence sold for $703,330
- The average single-family home sold for $779,981
- Whereas the average attached home sold for $476,144
March Interest Rates Update
The Bottom Line
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 5,849 attached and detached homes available in the entire Denver Metro area. Pushing at nearly a 30% increase in available properties, the numbers are up by 6.13% from March 2023. Meanwhile, affordability remains in the same range we’ve been seeing over the last year. The median sales price is $595,000 this past month, a little under a 5% increase from 2023. Leaving March 2023 at the slightly lower median price of $575,000.
There are 4,932 new homes hitting the market this Spring season, showing a slight drop from the 200 more this time last year: 5,099. The average days on market the Denver Metro area is experiencing is at a low -13.04%.
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 March 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.
