Spring is heating up the Denver Real estate market points out 5280 Denver’s Mile High Magazine,”According to the Denver Metro Association of Realtors (DMAR), our city’s luxury real estate landscape saw a major shift in February. Sellers stepped up with 689 new home listings in February, representing a massive 59 percent increase from January. For context, this is far above the 13 percent national average, and marks the most significant jump in Denver in nearly three years.”
That is a significant change and a spring time WOW surprise.
Denver Market Springs Into Action
The Denver Gazette, goes on to report “As the weather heats up each year, so does Denver’s housing market. While last year’s spring selling season — when the number of homes sales typically peak in the region — cooled due to high housing prices and rising interest rates, the market this year is showing signs of a better start.”
Home Availability Surges
The Gazette goes on to say, “A surge of homes went on the market in February, according to a new monthly Market Trends report from the Denver Metro Association of Realtors released Tuesday, and average prices were up 3% from the same time last year.
Many home sellers who have been holding out for more favorable conditions are not wanting to miss out on the region’s hot spring selling season, the association said.
The metro Denver 11-county area saw 1,000 more new listings compared to January. Buyers have plenty more options as active listings at the end of February were up nearly 13% from the month before and 46% from the same point in 2023. That’s a difference of 5,500 homes on the market in February 2024 and 3,800 in 2023.”
Snow Is Melting And Temps Rising
“Denver’s housing market surged in February as the snow melted and temperatures climbed. More sellers opted to list their homes, the median sale price increased, and the number of days on market dropped, according to the monthly trends report from the Denver Metro Association of Realtors.”, Denver Post reports ( By SARA B. HANSEN | [email protected] | Sponsored Content March 8, 2024 at 2:44 p.m.) and the news is really exciting!
So, according to these new trends the time is right! If you are contemplating a move, selling your home or investing, the time is right NOW!
Encouraging even further, The Denver Post ( By SARA B. HANSEN | [email protected] | Sponsored Content March 15, 2024 at 5:42 p.m.), “The statewide median sales price of $558,900 is up 4% from a year ago.”
It’s time to move now. A recent update published by U.S. News & World Report and authored by U.S. News Senior Real Estate Economist and MetroIntelligence Principal Patrick S. Duffy has ranked the Denver, Colorado Metropolitan Statistical Area (MSA) as the hottest housing market in the United States for the second year in a row. In addition, several markets in North Carolina and one in Virginia round out the top five list. Ranking from sixth to tenth place were markets in the states of Tennessee, Texas and Oregon. ”
Need we at Katchen Company, say more about the stability and resilience of the Denver Metro RE market?
You will find all the latest Market Reports from February 2024 here.