It is a topic that buyers and their real estate agents have come to know well due to low interest rates and buying activity.
DENVER – The surge in available homes for sale that typically accompanies the February-March transition has not occurred on the Denver subway this year as buyer demand has come, according to the latest monthly report from the Denver Metro Association of Realtors continued to exceed the offer.
It’s a topic that buyers and their real estate agents are well acquainted with as low interest rates and a sharp rebound in buying activity over the past year have put increasing pressure on the subway housing stock, resulting in a record number of available homes in the 11th century -County Denver Metro.
The number of active residential properties (both attached houses such as condominiums and detached single-family homes) stood at 1,921 at the end of March, a decrease of 5.09% from February and 66.74% from the previous year. The last time active inventory was not increased from late February to late March was 2014, according to DMAR.
Fierce competition for residential real estate has driven prices up and exacerbated Denver’s affordability problems. The median closing price in March reached $ 500,000, up 12.36% year over year. The median closing price for a single family home was $ 560,000, up 15.46% year over year.
> Continue reading this story in the Denver Business Journal.
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