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Sellers Seeing Unprecedented Number of Offers for Denver-Area Homes

DENVER – April 3, 2013   The latest data from Metrolist®, which powers REcolorado.com, a free resource for Colorado home buyers, sellers and owners, reveals a 46 percent increase in home sales from February and a significant 20 percent jump from March of 2012.

By all year-over-year comparisons, the Denver market is significantly stronger than it was in 2012. The average price of a Denver-area home is up 19 percent to over $295,000. The average days on market (DOM) are down 35 percent and inventory levels are 35 percent lower than they were in March 2012. As low inventory levels force prices up and decrease the amount of time houses are on the market, local market competition has noticeably risen.

“Our brokers are seeing a strong increase in ‘Flash Sales,’ where homes are coming under contract within days or even hours after being put on the market,” said Kirby Slunaker, CEO and President of Metrolist.

March marked the ninth month-over-month decrease in available listings. The historic low inventory levels are widely considered to have a direct impact on home price increases and DOM decreases.

Low interest rates combined with an undersupplied market puts new Denver-area listings at a premium. “For those who have ever considered putting their home on the market, today is about as good as it gets,” said Slunaker.

Denver-area sellers can expect even more exposure on REcolorado.com during the National Association of REALTORS® Nationwide Open House Weekend happening April 20-21, where homebuyers can access open house tours within Denver’s most in-demand neighborhoods.

To remain competitive in the tight real estate market and help find that dream home, Metrolist suggests leveraging online tools, like the mobile version of REcolorado.com. With the REcolorado.com mobile site, house hunters can look for nearby properties, find an agent, search for open houses, save property searches or schedule a showing. Homebuyers and sellers can get all the information they need at REcolorado.com before listing their house or making an offer.

About REColorado.com
Before entering the market, buyers and sellers can get free access to up-to-the-minute housing information throughout the State of Colorado at REcolorado.com. The website offers advanced search features and filters for price and location, as well as home values and scheduled open houses. This comprehensive local resource enables both buyers and sellers to enter the housing market well informed.

About Metrolist.com
Metrolist is the largest MLS in the state of Colorado, supporting the largest network of Realtors® with the most comprehensive database of real property listings throughout the Front Range. Realtor-owned since 1984, Metrolist provides leading technology solutions to real estate agents and brokers to better serve buyers and sellers. More information about Metrolist is available at www.metrolist.com.