I hope you’re doing well this weekend. As we’re over a quarter way into the year, I wanted to provide you with a few market highlights. Compared to a year ago at this time, it’s probably not surprising that the average price of a single family home is up almost 20%. That’s a jump from $565,745 to $674,990. Homes are selling quickly even as interest rates have seen a slight rise.

Active listings are 66% lower than this time last year, but pending sales are up 28% and homes continue to close at a similar pace. Typically this would be known as a “huge inventory shortage,” however the data actually suggests that new listings are pretty abundant. And rather than a shortage, what is happening is a demand surplus.

There are some predictions that monthly price gains may slow down as more inventory is expected to hit the market later this spring and summer. The Denver metro area and surrounding counties continue to be sought after destinations for buyers looking to right-size or find their forever home. And with summer just around the corner it’s still a great time to list!

Take a look at some more stats below, and reach out to me with questions anytime.

To view our infographic, click here.