Sellers Seeing Unprecedented Number of Offers for Denver-Area The latest data from Metrolist®, which powers REcolorado.com, a free resource for Colorado home buyers, sellers and owners, reveals a 46 percent increase in home sales from February and a significant 20 percent jump from March of 2012.
By all year-over-year comparisons, the Denver market is significantly stronger than it was in 2012. The average price of a Denver-area home is up 19 percent to over $295,000. The average days on market (DOM) are down 35 percent and inventory levels are 35 percent lower than they were in March 2012. As low inventory levels force prices up and decrease the amount of time houses are on the market, local market competition has noticeably risen.
“Our brokers are seeing a strong increase in ‘Flash Sales,’ where homes are coming under contract within days or even hours after being put on the market,” said Kirby Slunaker, CEO and President of Metrolist.
Low interest rates combined with an undersupplied market puts new Denver-area listings at a premium. “For those who have ever considered putting their home on the market, today is about as good as it gets,” said Slunaker.