March 2023: Denver Real Estate Market UpdatePosted by Neil Walton on
Are we seeing signs of a spring market? The Denver metro real estate market saw 3,226 new listings - 482 more new homes on the market than we saw last month (an increase of 17.6%). While still below last year at this time, demand in February was up 13.6% when compared to last month with 3,539 pending sales.
Active listings decreased month-over-month for February but jumped 68.1% when compared to last year at this time. Prices increased slightly month-over-month - the median closed price of a single-family home was $600,000, a 1.7% increase when compared to last month.
Anecdotally, we hear that due to very low inventory overall, buyers are back to needing to make quicker decisions and may compete with multiple offers. While above 2022 and 2021…
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