See below for our full report for March 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 third month in a row, active inventory was up. Metro Denver had 6,292 homes for sale compared to the 6,017 in February. Buyers were actively snatching up the properties with 5,660 homes going under contract (an increase from February’s 4,443). The number of sold homes were also up, reaching 4,162 (compared to February’s 3,468). Days on market dropped to 31 from last month’s 42, meaning homes are sitting on the market for less time. These are all good signs for the health of the market as we head into the hottest season for real estate in Denver.
Key Takeaways for March 2019 via DMAR for Metro Denver
Stats below include data for Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties
- Active Inventory in 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 March 2019 was: $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 March 2019 was: $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
What’s Happening in Denver:
Don’t Be Fooled: Denver’s Real Estate Market Is Still Hot
“…high-demand neighborhoods like RiNo, Sloan’s Lake, and Highland are as competitive as ever. The market is cooling (relatively speaking) in the suburbs, but even that doesn’t mean much. In Denver’s highly competitive real estate market (the most competitive in the nation, according to Forbes), the market can stand to cool a little and still be quite hot. Sellers have an advantage across the non-luxury market (that means—if you have the money—it’s easier to buy single-family homes selling above $1 million or condos at $750,000).” – 5280 Magazine
Denver’s latest big idea for affordable housing is tiny apartments
“Micro-apartments or, more accurately, buildings made up exclusively or featuring a high percentage of studio apartment units, are popping up around central Denver.
They appeal to renters who put more stock in location than square footage. They’re heavy on communal spaces and light on parking. They’re priced for people bringing in wages right around area median income or a little less.” – Denver Post
Capitol Business Preview: Four affordable-housing bills moving through Colorado legislature
“Colorado legislative Democrats announced before the session started that affordable housing will be one of their top priorities.” – Denver Business Journal
From cow town to tech town: Denver’s startup scene is flourishing
“The numbers tell the tale. At least 22 tech firms either moved their headquarters or opened field offices along Colorado’s Front Range between July 2017 and June 2018. They were drawn by a supply of metro area tech talent that grew by more than 23 percent — some 19,200 workers — between 2013 and 2018 and office space that remains a bargain compared to Silicon Valley and other coastal markets.” – Denver Post
What’s Happening Nationally:
As pricey homes hit market, median list price for a house reaches record $300,000
“The median asking price for a U.S. home hit $300,000 for the first time ever in March, according to housing data from Realtor.com to be released later Thursday and provided early to USA TODAY. That topped the previous peak of $299,000 reached in June and July of last year.” – USA Today
Recessions and yield-curve inversion: What does it mean?
“There’s a lot of chatter about the inversion of the yield curve and how it’s an indicator of an impending recession. To better understand, let’s take a look at both the history, and the current situation.” – Forbes
Report: Lackluster home sales push inventory growth in January
Home builder confidence climbs as economy strengthens
“Declining mortgage rates partnered with a healthy economy contributed to home builder confidence increasing two points to 62 in February, according to the National Association of Home Builders/Wells Fargo Housing Market Index.” – Housing Wire
Good news home buyers, there are more homes for sale
“In January, the number of homes newly listed for sale rose 4.4% from the previous year, boosting the number of homes for sale up 6.3%, the largest supply increase since May 2015.” – Housing Wire
Report for Metro Denver:
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!
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