Metro Denver residential real estate trends in March 2017 stayed true to form … everything was UP.
Do you own the average single family home?
At $466,414, it’s was up over 8% from a year ago.
Do you own the average multi-family property?
It was up by more than 9.5% over March of last year at $313,419.
Market activity continues to be strong. More than 4,400 homes changed hands in March and that is 10.1% more than the number we experienced in March of 2016.
This increased activity was not just a March phenomenon. It’s been characteristic of the year so far. We’ve had 10,409 homes sold in the first quarter of 2017, which is a 6.6% increase from the 9,760 that sold in the January to March time frame of 2016.
Even the inventory of homes available for purchase at month end showed a slight increase. The 3,935 active homes on the market on March 31st represent about a 0.5% increase over the number that were up for sale when March ended a year ago.
Here is a summary of several market parameters for March 2017 compared to March of 2016:
The stats above are for sales activity in Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson counties. It includes home sales handled by real estate agents though Metrolist/REColorado®, Inc., the MLS system serving the metro Denver area.
You can see a more extensive breakout between the single family and multi-family segments of the market by clicking on the links at the end of this post. Be sure to take a peek.
If you like the look of those reports, we can produce one for you that is specific to your zip code and property type. The market is not uniform. Your part of town may be doing
better or worse than the metro-wide averages.