Even in these challenging times, Denver is still a fantastic place to live. With the abundance of outdoor activities, beautiful scenery, and variety of entertainment options, it is easy to see why the Mile High City remains so popular.

Each quarter LIV Sotheby’s International Realty (LIV SIR) reports on the Denver Metro real estate market. The Micro Market Report conveys the performance of the real estate markets in 58 different neighborhoods across Denver. Below are the highlights from the Q1 report.

·       Comparing the Q1 performance of 2020 to that of 2019, sold listings in Denver Metro increased by an impressive 8.1%, which brought 10,888 sold listings to the market throughout the first three months of the year.

·       The average price for houses in Q1 showed an upward trend, growing by 6.6% for single family homes and 3.9% for condominiums. As a result, the overall total dollar volume sold rose by 13.4% in Q1 when the total reached $5,248,863,111 compared to last year when the total sales volume reached $4,629,021,069.

·       Within the 58 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity throughout Q1 of 2020. Southglenn saw a formidable increase in properties sold, growing by 133.3%. During Q1 of this year, there were 14 homes sold in this community compared to the same time frame in 2019 when there were just six homes sold. This increase in sold homes speaks to the value home buyers are seeing in listings within the area.

·       Downtown Denver also saw a boost in the number of properties sold throughout Q1. In a comparison of January through March of this year to the same time in 2019, Downtown Denver increased in properties sold by 52.4%. In Q1 of 2020, 128 homes sold in this thriving urban community but in Q1 of 2019 84 homes sold. The drastic increase highlights Downtown Denver’s popularity and illustrates the demand for homes in this neighborhood.

·       Home buyers in Crestmoor were very motivated during Q1 of 2020. Listings in this community were on the market for 78% less time, averaging only nine days in Q1 of this year compared to 41 in Q1 of 2019. Heritage Greens also saw a drop in average days on market, decreasing by 60.6%, from 71 days in the first quarter of 2019 to 28 days in the same period this year.

While times are still very much uncertain, the report indicates that there are still opportunities for home buyers and sellers to reach their real estate goals in Denver Metro this year. if you are considering becoming a homeowner soon, contact Metrowest. We would love to help you start the process.