Inventory Continues to Climb 44% | May 2022
5/10/2022- Number of available listings (detached and attached) at the end of April rose 44.26% from March and 23.52% from one year ago to 3,204 homes for sale
- Number of homes Sold (closed) decreased 11.91% in a year over year comparison
- Number of homes Sold (closed) increased 2.98% from March
- Number of homes placed under contract (pending sale) increased 15.96% from March and 2.07% in a year over year comparison
- Average Sold Price for all homes increased 3.46% from March and increased 17.11% in a year over year comparison. The average sale price for a detached single-family home increased 3.93% from March to a record high of $825,073
- Less than a two-week supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
- Average days on market for detached homes (9) decreased 18.18% from March
- The average detached home sold in April for 107.29% of the list price – a new record
- Mortgage rates rose to a range of 4.85% to 5.25%
- Forward looking data suggests a continued seller’s market with more pronounced moderation later in the summer. The market will remain favorable for sellers who properly adjust to a moderating market. If a move is in your plans for the 2022 now is the time to discuss a timeline for selling. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.
Below is a Denver real estate market snapshot based on April 2022 Statistics from DMAR Market Trends*
This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood, click Market Report or call Tom Gross for more information.
Questions? Let’s talk – contact us anytime to discuss your questions, plans, or the current value of your home. If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.
*Stats & Trends provided by Denver Metro Association of Realtors for 11 counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson & Park All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Kentwood Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. SOURCE: DMAR Market Trends | APRIL 2022