As anyone who follows the market can attest, it has certainly been an interesting few months for the Denver real estate scene. In-home showings were halted for a short period and hundreds of sellers pulled their listings off the market as they were uncertain of the financial impact of the pandemic. Below is a recap from the Denver Metro Association of Realtors (DMAR) of what went on in March/April and how it affected both sellers and buyers.

Home showings:
Showings surged after the most stringent guidelines under the state’s stay-at-home order were lifted in late April. But activity was still muted compared to the number of showings recorded before the lockdown began. Showings were down 50 percent compared with the first weekend in March.

Home prices:
Denverites might have been at home all of April, but that did not slow the price of homes. According to DMAR, the median closing price of a home last month was $440,000, up 4.76 percent over April of last year though down slightly from March 2020.

Home sales and listings:
There were 3,603 homes and condos sold in April, a 24.3% drop month-over-month and a 30.8% drop year over year. New listings came in at 4,679, down 29.8% from March and 37.8% from April of 2019.

What does the future hold?
April marked a challenging month for the residential real estate market under stay-at-home orders. But some recent numbers are giving local real estate experts hope that monthly buying and selling activity in the Denver metro could soon rise to pre-coronavirus levels, or greater.

If you are thinking of becoming a homeowner in the Denver area, now might be the ideal time. Contact Metrowest today – we have the experience, tools, and resources to help you achieve your homeownership goals!