Denver March Stats were just released. March definitely roared in like a lion.
Investors are always asking about the Denver market, so I thought I'd share:
Here are the numbers in brief:
Avg. close price for detached SFH: New record @ $674,990, up 6.72% from Feb '21 and up 19.3% March '20.
DOM (days on market): Record low avg. 15 days and tied record median 4 DOM.
Detached Inventory: 0.39 months. (With no new inventory, all the homes would be gone in less than 12 days.)
All Residential Inventory: Record low of 1,921 available listings for sale. 5.09 percent below Feb '21 and 66.74 percent below March '20.
If you're looking to invest in Denver, prepare yourself. Other questions? Let me know if I can help.