The first quarter of 2021 continued to break records in the Denver real estate market, with sellers receiving, on average, 104.1% of the list price in March. And it isn’t just homes in the lower price ranges - even with $1 million-plus properties, sellers still have the upper hand.

According to recent data of the 13,807 sales in the first quarter examined, 56% sold for above the list price and another 18% at list price. Of the 935 neighborhoods tracked, 158 or 17% had every listing go for above the asking price. Another 150 had between 75% to 99% of homes sell above the initial price.

The share of homes selling above list price is just one way to measure activity in the market. Price appreciation is also something to keep in mind.

The five hottest zip codes in terms of price appreciation in the first quarter were Lowry’s 80230, up 79%; 80128, covering Meadowbrook Heights, Stony Creek and Columbine Hills, up 41.4%; 80210, which covers parts of the Platt Park, University Park and Wellshire, up 31.9%; 80433, covering Conifer, up 27.1%; and 80138, covering East Parker, Ponderosa East, and Canterberry, up 25.9%.

At the other extreme, a tenth of metro Denver zip codes experienced price declines. Lakewood has some hot neighborhoods, but the 80215 zip code was the coldest in terms of median sales prices, which fell 8.3%. That area includes the Applewood, Cedar Crest and Heverly Heights neighborhoods.

While the Denver market continues to favor sellers, buyers can still turn their dream home into a reality if they know where to look. The first step is to get an experienced pro in your corner. Contact Metrowest today – we’d love to show you around!