Check Out This March Market Update for Denver Metro
The latest trends that happened in our local market last month.
What’s the latest update in our local housing market? Today I’m sharing the recent trends in the Denver Metro real estate during March 2023.
By the end of the month, there were 3,778 active homes available on the market, indicating an 8.3% decrease from January but a 208.1% increase from the previous year. As for closed homes, 2,661 were sold in February, showing a 22.5% increase from January and indicating a surge in home sales as we approach the spring season. However, there was a 24.9% decrease in annual home sales. While we may still have a significant amount of inventory to choose from, fewer homes are selling.
The average close price was $657,921, which represents a 5.2% monthly increase and a 1.3% annual increase. As we move into the warmer months, we can expect to see a further increase in home values.
If you have any questions about our market or need help with your real estate plans, please let us know. Call or email us anytime; we’re happy to help.