Last month in metro Denver, price appreciation for homes sold "continued to perform gravity-defying feats," according to The Denver Post.
The average price of a home sold in the metro is up 11.7 percent this year, from what were already held to be elevated levels, according to The Denver Post. In February 2018, the average price surpassed $500,000, and in March 2018, the average increased 3.8 percent to $522,277. Too, the number of listings in metro Denver went up 36.4 percent month-over-month in March 2018, but has not yet overtaken the number of listings in March 2017.
“The anticipated cooling effect of unaffordability has yet to materialize in the figures,” DMAR Market Trends Committee chairman Steve Danyliw said in the report. “All in all, there are good numbers across the board, with the same storyline of low inventory and prices moving higher.” Condo activity was more subdued, with a 1.5 percent increase in the average price to $351,044 and a 1.7 percent drop in the median to $295,000 last month.
