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Denver Metro Real Estate Statistics March 2011

The latest Denver Metropolitan Real Estate statistics for the month of March, 2011 are in!  Overall, it looks like inventory is up about 3% over the month of February and sales prices have risen by about the same percentage to $249,644 (combined Residential and Condos).  The average sold price for Residential is at $273,877 and $159,853 for Condominiums.  Unfortunately, it looks like the amount of properties place under contract in the month of March decreased by about 3.30% compared to February 2011 and decreased by almost 40% from March 2010.  However, it’s very important to note that the First Time Homebuyer Tax Credit in 2010 was set to expire April 30, 2010 and as a result there was a great deal of “increased” activity taking place this time last year as buyers were scrambling to get under contract by the end of April.  Overall, I feel like these numbers are encouraging, if ever slightly, and it feels like there has been an increase in activity as of late.  We’ll have to wait and see how much of this increase in activity is simply seasonal and how much of it is driven by an increase in confidence while unemployment is slowly improving and mortgage rates are still very attractive.   Just this week 4 new properties have hit the market in my neighborhood as sellers are sprucing up their properties in hopes of taking advantage of the spring/summer buying season.  I feel like it’s a great time to be buying or selling a home in the Metro area and would love to assist you with your transaction.  Call me anytime at (303)916-7737 or email me at bgrace@mbpros.net