Ready to Make Your Move?
Text or Call David and Tom
720-408-7409

Front Range Real Estate Market Update, April 6, 2023

Mortgage rates are lower now than they’ve been since February, which is good news for buyers – and sellers. If more buyers enter the market, sellers could see more multiple-offer situations and have more offers to choose from. In addition, buyers could enjoy lower payments than they would when rates were higher.

Realtor.com says ten to sixteen days from now – from April 16 to April 22 – is the ideal time to list your home. This is because buyers who purchase a home listed that week will be able to move precisely when they want to. It’s also a great time to list because inventory is still low – you will have less competition from other sellers. So schedule a call with us to get started if you want to list this spring.

About 37% of all homes for sale in our area have lowered their prices, compared to early November when about 58% had done so.

What happened last month in our local market:

The big news is that prices rose again after falling for a couple of months. We also saw a relatively large jump in inventory. We’re still well below historical averages, but there were about twice as many homes for sale as a year ago. There was also much more activity overall, with many more closings than in recent months.

Residential – Detached and Attached Homes

Average Closed Price: $665,390
+1.44% compared to February
-5.24% year-over-year

Median Closed Price: $565,000
+0.44% compared to February
-6.15% year-over-year

Active Listings at the End of the Month: 4,516
+19.53% compared to February
+103.33% year-over-year

Closed Homes: 3,790
+32.29% compared to February
-21.24% year-over-year

Days in MLS: 37
-22.92% compared to February
+208.33% year-over-year

Detached Homes

Average Closed Price: $743,175
+2.01% compared to February
-6.30% year-over-year

Median Closed Price: $620,000
+3.33% compared to February
-6.06% year-over-year

Active Listings at the End of the Month: 3,163
+20.82% compared to February
+94.41% year-over-year

Closed Homes: 3,163
+32.15% compared to February
-19.47% year-over-year

Days in MLS: 39
-20.41% compared to February
+254.55% year-over-year

Attached Homes

Average Closed Price: $475,655
-0.56% compared to February
-4.16% year-over-year

Median Closed Price: $405,750
+0.19% compared to February
-4.42% year-over-year

Active Listings at the End of the Month: 1,353
+16.64% compared to February
+127.78% year-over-year

Closed Homes: 1,102
+32.61% compared to February
-25.24% year-over-year

Days in MLS: 33
-25% change compared to February
+175% year-over-year

Ready to make your move? Contact us now for expert guidance. Call 720-782-2468 or schedule a time for us to call you.

Schedule a No-Obligation Call

Metro Denver Real Estate Market Activity

During the last week:
New Listings – 1178
Back On Market – 244
Price Increase – 136
Price Decrease – 765
Pending – 1457
Withdrawn – 106
Closed – 1401
Expired – 320

Previous week:
New Listings – 1216
Back On Market – 202
Price Increase – 105
Price Decrease – 709
Pending – 1427
Withdrawn – 108
Closed – 1074
Expired – 152

“We listed our home with David and then relocated out of town. David went above and beyond to handle issues while we were out of town. He does a great job of explaining things and kept us in the loop on all conversations with the buyers. We sold our house in less than a week and David kept us on track to complete all of our tasks in time for closing.

We highly recommend using
David Lampe to anyone listing a house in the Denver area.”
– Daryl S., Brighton