Could April home sales have possibly been more than we’ve seen in a decade?
The answer is, yes! More homes sold in April than we’ve seen in any other April in more than a decade.
Throughout the month, just over 5,000 homes sold in the 11-county Denver Metro Area, up just slightly from last year, but a month-over-month increase of 12%.
Year to date, sales are just 2% lower than this time last year indicating we’re on pace for another busy sales season.
Contracts were put in place on about 6,400 homes in April, up 11% from last year...
…and 18% higher than last month.
The average sold price of a home inched closer to the half million dollar mark in April reaching nearly $496,400, an increase of 1% from last year...
…and a 4% increase compared to last month.
Single-family detached homes sold for an average price of nearly $553,000 up 1% year over year.
The price of condos/townhomes was up 3% from April 2018, at an average of over $365,000.
Sellers continued to bring more new listings of homes for sale to the market in April. Throughout the month, 7,523 listings hit the market, an increase of 20% compared to last month.
And, 8% more than last year.
Year to date, New listings are up 7% year over year.
The count of active listings of homes for sale at the end of April was 39% higher than last year...
...and 25% higher than the end of last month.
We currently have 7 weeks of inventory, 1 week more than last month...
...and 2 weeks more than last year at this time.
So, sales are up and so are buyer options.
In April, homes spent an average of 41 days on the market, 7 days less than last month.
But, 8 days more than this time last year.
On average, single-family detached homes were on the market 34 days, while condos/townhomes were on the market 57 days.
The April housing market saw the most activity in the $300,000 to $500,000 price ranges, with 47% of all new listings...
...and 49% of sales.
At the end of the month, 36% of all active listings were priced between $300,00 and $500,000.
Homes in these ranges are in high demand, spending an average of only 31 days on the market.
It’s not too late to take advantage of the spring market! We know everyone’s situation is unique.
Give us a call to discuss how the real estate market impacts you. We’d love to hear from you!
The Altitude Group
REALTOR® | MCNE
REALTOR® | CNE