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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%.

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Year to date, sales are just 2% lower than this time last year indicating we’re on pace for another busy sales season. 

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Contracts were put in place on about 6,400 homes in April, up 11% from last year...

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…and 18% higher than last month.

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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...

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…and a 4% increase compared to last month.

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Single-family detached homes sold for an average price of nearly $553,000 up 1% year over year. 

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The price of condos/townhomes was up 3% from April 2018, at an average of over $365,000.

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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. 

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And, 8% more than last year.

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Year to date, New listings are up 7% year over year.

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The count of active listings of homes for sale at the end of April was 39% higher than last year... 

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...and 25% higher than the end of last month.

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We currently have 7 weeks of inventory, 1 week more than last month...

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...and 2 weeks more than last year at this time. 

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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.

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But, 8 days more than this time last year. 

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On average, single-family detached homes were on the market 34 days, while condos/townhomes were on the market 57 days.

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The April housing market saw the most activity in the $300,000 to $500,000 price ranges, with 47% of all new listings...

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...and 49% of sales.

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At the end of the month, 36% of all active listings were priced between $300,00 and $500,000. 

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Homes in these ranges are in high demand, spending an average of only 31 days on the market.

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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!

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The Altitude Group

Matt Thomas

REALTOR® | MCNE

303-269-1617

Matt@AltitudeRealEstateGroup.com

——————————-

Chad Schneider

REALTOR® | CNE

720-767-2423 (CHAD)

Chad@AltitudeRealEstateGroup.com