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Home Values Are On The Rise

Re/MaxColorado Comments Off on Home Values Are On The Rise

The following reports are from Single Family Home listings in the seven county Denver metro area through March, 2021. If you are interested in specific data about your community, click here and I will quickly provide you with the latest information.
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Home Values Are Up 14.7%

This report shows the median monthly sales price for single family homes in the Denver metro area.

Since March of last year, home values are up 14.7%! As of last month, listings are selling in less than two weeks (most in just a few days)!

 
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Number of Active Listings Hits Record Low Territory

Residential inventory remains historically low, driving up home values and causing most listings to see multiple offers.

Buyers must be well-qualified, not contingent, and decisive to make their offer stand out in a crowd.

 

Expert Predictions

In an April 16th report on Housing Starts, National Association of Realtors®️ Economist Lawrence Yun stated “The March figure of housing starts is the highest figure in 14 years. Today’s news on the new home construction surge is therefore highly welcome, especially in light of major challenges on material costs and soaring lumber prices. As trade up buyers purchase newly constructed homes, their prior homes will show up in the MLS and hence, more choice for consumers.” Click here for the complete statement.