According to the latest marketing statistics from REcolorado, the Denver Metro market hit a five-year high for new listings in the month of February, giving buyers more options, especially in the $300-500,000 price ranges. There is currently 7 weeks of inventory, 1 week less than January and 1 week more than last year at this time.
In February, home sales decreased 1% from last year, but are up 16% from January, which is a sign we’re heading into the busy buying and selling season. The number of homes that moved to Under Contract in February was 10% higher than last year, indicating it was an active month.
Additionally, homes are continuing to sell quickly, in an average of 49 days, five days faster than last month and last year at this time. The rate at which home prices are increasing continues to moderate, with the average price of a single-family home rising to $464,354 in February, up 1% year over year.
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We pull statistics on the fourth business day of the month because it leaves time for you to make your status changes. (We require status changes be made within three business days because we’re all about accurate data and we know you are, too!)
Quick Infographic for Denver Metro
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Here are a few training classes to take to learn more about market stats and practice pulling your own data using tools like Matrix, Realist, and InfoSparks/FastStats. InfoSparks can help you quickly analyze and share trend data with your clients. FastStats gives you a one-page look at the most current market stats for specific Colorado areas.
Market Intel (2 CE) – Explore the power of in-depth, current market intelligence | View all upcoming class dates and times >>
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