Denver remains a seller’s market, although prices are lower than they were at this time last year and there’s a slight increase in the number of homes on the market. That’s according to the Denver Metro Association of Realtor‘s April market trends report that looks at home sales in the 11-county metro area: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.

How much are Denver Homes?
Currently, the median home price — including both houses and apartments, condos, and townhomes — is $565,000. That’s down 6.15% from this time last year. Median refers to the middle number in all available home prices — a more accurate measure of how much most homes are than average.

Homes are staying in the market for an average of 37 days. Last month saw 3,790 closed home sales, which is down 21.24% from last year.

The median stand-alone house price is currently $620,000, and the median attached home (think condos, townhouses, and duplexes) is $405,750.

In the so-called “Classic Market” — homes priced from $300,000 to $499,999 — “inventory remains tight,” noted William Maine of the Denver Metro Area Realtors Market Trends Committee.

Price appreciation has caused inventory of homes under $500,000 to plummet, he added, and low inventory and strong demand are likely to be the Classic Market norm.

That means middle-class people and those making even less will find it continuously tough to own a home. With high rents, that means many will continue to be forced to leave Denver or tap into public assistance programs.

If your goal is to become a homeowner in 2023, it is attainable. But you need to have an experienced pro in your corner to help you find the best deal. Contact Metrowest today and let’s discuss your options!