According to the Denver Metro Association of Realtors, average home prices in the area continued to rise to new records in April. Condos and detached single-family homes cost an average of $417,000 in April, a 9.46 percent increase compared to April 2017 and a 2.75 percent increase from March.
Compared to the month before, total homes for sale at month’s end increased by 12 percent to 5,160. This was still about 4 percent lower the same time last year, and significantly lower than the area’s historical average of 15,710 homes for sale.
The number of new listings increased in April 2018. Close to 7,000 homes were listed in April, selling in an average of 20 days. Meanwhile, luxury home listings increase by 33 percent compared to April 2017.