<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1509788629317365&amp;ev=PageView&amp;noscript=1">

Denver Real Estate Market Report for April 2019

Posted at 05/03/2019 08:42 AM by Jennifer Black

april real estate report denver colorado 

See below for our full report for April 2019 and please let us know if you have any questions. We email this market infographic report on the Denver Real Estate Market each month. To get on the email list, please reach out to marketing@usajrealty.com and request to be added.

How is the Denver Housing Market Doing? 

For the fourth month in a row, active inventory was up. Metro Denver had 7,012 homes for sale compared to 6,292 in March. Also for the fourth month in a row, the number of homes sold and homes under contract had an increase -- this speaks to buyer confidence and that activity in the market is not slowing anytime soon. The number of sold homes was up to 4,675, a 4.17 percent increase from last month. And 6,470 homes went under contract.

When comparing April 2019 to April 2018 we see that active listings, new listings, under contracts, and the number of sold homes are all up from this time last year. Median sold prices saw a 1.20 percent increase from last month and a 0% change from last year. Average sold prices faired a little better with a 3.87 percent increase from last month and a 1.5 percent increase year-over-year.
 
According to DMAR, "While inventory is rising, multiple offers are still prevalent if a property is priced correctly. Properties may not receive five offers, but will likely receive two to three and that still puts sellers in the driver's seat to pick the offer that works best for their needs."
 
While sellers may not be seeing 7 - 8 percent jump in year-over-year sales prices of years past, prices are still ticking up.April 2019 set a new record for the highest average sold price for a single-family home at $553,271. Reaching out to a real estate agent directly will give you the best idea of what you can sell your home for.

Key Takeaways for April 2019 via DMAR

Stats below include data for Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties

  • Active Inventory in April 2019: 7,012
    • March 2019: 6,292
    • February 2019: 6,017
    • January 2019: 5,881
    • December 2018: 5,577
    • November 2018: 7,530
    • October 2018: 8,539 
    • September 2018: 8,807
    • August 2018: 8,228
    • July 2018: 7,643
    • June 2018: 7,436
    • May 2018: 6,437
    • April 2018: 5,160
    • March 2018: 4,619
    • February 2018: 4,084
    • January 2018: 3,869
    • December 2017: 3,854
    • November 2017: 5,131
    • October 2017: 6,312
    • September 2017: 7,586
    • August 2017: 7,360
  • Median Sold Price for a condo in Denver metro in April 2019 was: $305,000
    • March 2019: $300,000
    • February 2019: $297,500
    • January 2019: $290,000
    • December 2018: $298,225
    • November 2018: $299,450
    • October 2018: $299,250
    • September 2018: $301,625
    • August 2018: $299,000
    • July 2018: $300,000
    • June 2018: $305,000 
    • May 2018: $306,331
    • April 2018: $297,000
    • March 2018: $295,000
    • February 2018: $296,000
    • January 2018: $285,000
    • December 2017: $285,000
    • November 2017: $272,000
    • October 2017: $275,000
    • September 2017: $268,000
    • August 2017 $275,000
    • July 2017: $270,100
  • Median Sold Price for a single-family residence in Denver metro in April 2019 was: $420,000
    • March 2019: $450,000
    • February 2019: $430,100
    • January 2019: $425,000
    • December 2018: $430,000
    • November 2018: $427,000
    • October 2018: $435,000
    • September 2018: $428,000
    • August 2018: $445,000
    • July 2018: $450,000
    • June 2018: $452,500
    • May 2018: $450,000
    • April 2018: $455,000
    • March 2018: $440,875
    • February 2018: $435,000
    • January 2018: $416,000
    • December 2017: $415,000
    • November 2017: $405,000
    • October 2017: $415,000
    • September 2017: $409,000
    • August 2017: $410,000
    • July 2017: $420,000

See All Denver Condos for Sale

What's Happening in Denver:

Good News for Sellers—and Buyers—in Denver’s Real Estate Market

"The number of homes sold in the Denver metro area dipped a little in April, according to the latest Denver Metro Association of Realtors report, which is actually a good thing for both buyers and sellers. The market’s perfect-storm conditions give buyers a little more time to find their dream home, and listings with a longer shelf-life mean there are more options to choose from—all without prices dropping one iota." - 5280 Magazine

Denver rents continue their steady rise, up 2 percent in past year

"The cost of renting an apartment in metro Denver continues to rise, according to the latest data from rental listing website ApartmentList. As of April, rents overall were up 0.2 percent from the previous month for a median price of $1,060 for a one-bedroom unit in Denver and $1,350 for a two-bedroom, according to ApartmentList. Compared to the same time last year, rents are up 2 percent." - Denver Channel

Another study finds legalization runs up property values

"Last year a study by Colorado State professor Jesse Burkhardt found that new home prices close to Denver marijuana dispensaries rose faster than those for homes farther away. Now a second study has produced similar findings on a much larger scale." - Boulder Weekly

Foreign investors continue their real estate spending spree in Colorado

"Last year alone, foreigners invested $153 billion in U.S. homes, according to the National Association of Realtors, with more than $1 billion of that spent here in Colorado." - The Denver Channel 

More inventory on the market, but experts say Denver is still considered seller's market

"If you're planning to do some house-hunting this spring, don't expect too many deals in metro Denver. While the market has cooled off slightly, inventory is still at historic lows. And sellers keep getting multiple offers." - The Denver Channel

Market Insights by DMAR

"Mortgage rates are 0.25 to 0.38 percent lower than a year ago. Mortgage applications have increase three percent compared to last year, and a slowing appreciation have all contributed to fueling a strong purchase market today." - DMAR

What's Happening Nationally:

Home price gains in Denver slow in February

"Momentum is slowing across the country, with the national index dropping to a 4 percent annual gain in February compared to a 4.2 percent gain in January. Of the 20 metros tracked, 19 reported a slower rate of increase. Tampa was the exception." - The Denver Post

Home sales will be stymied in 2019 by high prices and "underbuilding"

"The dearth of affordable homes is a hangover from the Great Recession, made worse by the current high costs of construction and shortage of cheap labor, said Swonk, a longtime advisor to the Federal Reserve Board and a former member of both the White House’s Council of Economic Advisers and the Congressional Budget Office." - Housingwire

Read Denver Metro Association of Realtor's full report on last month's Real Estate trends and statistics in Denver here.   

And as always, please let us know if you have any questions! 

Contact an Agent

  

Posted by Jennifer Black

Jennifer Black champions all of Usaj Realty’s marketing publications. With a passion for digital marketing, graphic design, writing, and all things creative, Jennifer excels in the office as a crucial support staff member for our brokers and management Originally from Redwood City, California, Jennifer pioneered her way to Denver and began working for Usaj Realty in May of 2014. She loves every minute of life in Denver, which is directly enhanced by her time designing for Usaj Realty. Away from work, Jennifer enjoys escaping to the great outdoors, going skiing, hiking, and exploring local breweries and restaurants.

LinkedIn

Website

Topics: Denver Real Estate Market