The latest monthly update from the Denver Metro Association of Realtors says that median home prices dropped annually for the first time since 2012.
March 6, 2019
Photo: Unsplash/Mark Hessling
The latest monthly update from the Denver Metro Association of Realtors says that median home prices dropped annually for the first time since 2012.
In February 2019, the median sale price of a single-family home in the metro was $430,100, a 2.18 percent year-over-year drop. Jill Schafer, chairwoman of the DMAR market trends committee and a Denver-area real estate agent tells The Denver Post, “Buyers are getting more power and sellers are not loving it. But there is something for both sides to love. Sellers are still doing OK.”
Barring a future surge in prices, it appears the high for this real estate cycle was likely reached in April of last year for single-family homes at $455,000. For condos, the high came a month later at $306,331. Single-family prices are down 5.5 percent from that peak, while condo prices are down about 3 percent. Median prices fell month-over-month in the second half of last year, so the annual drop wasn’t completely unexpected.
