How did the housing market perform this month? How is the market preparing for Spring? Continue reading below for more statistics on the Denver Metro Area Residential Market for March 2020.
The latest Denver Metro housing market statistics from REcolorado show the market held steady in March. The count for closed listings was 2% higher than last year at this time. Sellers brought 6,693 New Listings of homes for sale to the market, a year-over-year increase of 7%. Home prices continue to appreciate in March. The average closed price was 7% higher than last year at this time, at $513,691.
MAR 19′: 4,528
MAR 20′: 4,631
In the Denver Metro Area this March, 4,631 homes closed, a year-over-year increase of 2%. As compared to last month, sales saw a seasonal 21% increase.
In March, the count of listings in Pending status was 4,901, which is 7% higher than last month, but down 9% from March 2019.
Homes Closed Year-Over-Year Change
March 2019 — 4,528
March 2020 — 4,631
AVERAGE DAYS ON MARKET
MAR 19′: 32 Days
MAR 20′: 30 Days
In March, homes spent an average of 30 days on the market, 2 days less than this time last year, and 8 days less than last month. On average, single-family residences were on the market 29 days, while multi-family/condos/townhomes were on the market 32 days.
The median number of days a home spent on the market in March was 7, 3 days less than this time last year.
Days on Market Year-Over-Year Change
March 2019 — 32
March 2020 — 30
– 2 days
AVERAGE SOLD PRICE
MAR 19′: $478,535
MAR 20′: $515,691
In March, the average price of a home in the Denver metro area was $513,691, a year-over-year increase of 7% and up 6% from last month.
Single-family residences sold for an average price of $567,623, up 7% year over year. The price of multi-family/condos/townhomes was also up 7% from March 2019, at an average of $386,113.
Average Closed Prices Year-Over-Year Change
March 2019 — $478,535
March 2020 — $513,691
MAR 19′: 6,244
MAR 20′: 6,693
Throughout the month, sellers brought 6,693 new listings to the market, up 7% compared to last year, and a 31% increase from last month.
The count of active listings of homes for sale at the end of March was 6,372, 1% higher than last year and 34% higher than the end of last month.
We currently have 6 weeks of inventory, unchanged from both last month and last year.
New Listings Year-Over-Year Change
March 2019 — 6,244
March 2020 — 6,693
Ana Jewett | Patrick Rampi | Blair Vigil | Kyle Malnati | Matt Peterson