With March Madness in mind, here are some of the wins, upsets, and stats that are shaping today’s market conditions that home-buyers and -sellers should definitely know about.
For this month's Denver real estate market update we thought it would be fun to bring you fresh information in the style of college basketball's March Madness!
It was fun to roll out our market update in press conference fashion. We try not to take ourselves too seriously--we're experienced real estate professionals, but certainly not entertainers.
Our goal is to continue to find effective ways to keep you informed of local market conditions, in the event you need to buy or sell a home, or just find yourself curious about your investment's performance in the marketplace.
March Statistics Courtesy of REColorado
Homes values are up another 1.4% from last month. The big win there being another $6,300 increase, on average, for homeowners! These are springtime conditions!
How do prices compare to this time last year? Here are some wins:
Home values have increased across the Denver Metro area by 13% in the last year!
How about bracket-busting upsets in the market right now?
Homebuyers may be feeling like their brackets have been busted by the lack of inventory.
...sales have increased over 9% since the previous month.
And, we’ve seen the amount of new listings hitting the market increase by over 11% since last month as well.
That’s typical for this time of year and it should begin to alleviate some of the pent up demand for homes.
As always, we know everyone’s situation is unique, so please give us a call to discuss how the real estate market impacts you. We would love to hear from you!