Denver's Sizzling Real Estate Market Continues...
If you have been watching the news you have probably heard that the real estate market is extremely hot. Denver's housing market continues to be one of the hottest in the country!
Year to date this has been one of the busiest on record. The numbers are staggering. May closings were up an astounding 55% compared to this time last year! New listings were down by 12% only adding to record low number of available inventory to purchase. May 2020 had 9 weeks of inventory while May 2021 dropped to only 2 weeks of inventory.
With record low inventory and sky high demand the average closed price for a single family home rose by an astounding 26% closing at a price of $620,670!
More Market Stats
With the summer selling season upon us inventory will remain tight for the foreseeable future. If you're thinking of buying or selling a home this summer, it's critical that you have a strong Realtor who knows how to navigate challenging markets and get you the winning bid. Call us today!
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