April 2021 stats recap: Denver home bidding wars continue to drive up prices

April 2021 stats recap: Denver home bidding wars continue to drive up prices

I recently read an article published online by a Denver television network. It was titled: “Home out of range: 65% of Denver homes sell over asking price.” As I began to read, I didn’t even make it through the first sentence before I was met with disappointment. It started, “Littleton, Colorado…” So which is it, Littleton or Denver? Being a stats geek, I had to find out the actual number of Denver listings that closed at or above list price last month, in addition to pulling monthly stats (see below).

We’ve all heard the bidding war stories that are floating around and I knew the number would be high, but the numbers really were astonishing. In April, there were 1,519 homes that closed, and of those, 1,215 sold at list price or above. That means that a staggering 79.9% of homes sold at or above list price! Let that sink in a bit — now it makes even more sense why the median sale price for single family homes jumped another $20k from March, up to $650,000. 😳

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