Denver Home Prices Continue to Rise, but Market Softening Ever-so-slightly

Denver Home Prices Continue to Rise, but Market Softening Ever-so-slightly

Denver Real Estate Market Snapshot - April 2019

For the first time since May of last year, the median sales price for detached single family homes is back above $500,000. The median price this April, however, is 1.2% lower than April of 2018. Months of inventory rising 50% higher in April 2019 compared to last April, means that homes are taking longer to sell. With a lower interest rate and higher inventory, Denver buyers are feeling a little less pressure compared to last April. Last May, Denver experienced the highest median sales price of all time, and May of 2018 was also the second highest month in sales last year. Year-over-year prices and sales volume are lower than 2018, but month-to-month sales and prices are rising steadily in 2019. Regardless of the slighter softness in the market this year compared to last April, it is safe to say we’re in for a very active market this month.

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