April 2018 Housing Market Statistics
The latest housing market data from REcolorado show more sellers listing their home for sale as the weather warms in the Greater Denver Metro Area. Home sales remain consistent with this time last year, falling only 1%, while average sold price continues to rise in Colorado.
Throughout April, 4,789 homes sold, 1% lower than last year, but up 4% from March. Year to date, sales are just 2% lower than 2017 figures. In addition to strong home sales, April saw a lift in the number of homes going under contract. Throughout the month, contracts were placed on 6,142 homes, a 12% increase from last month.
Home Sales Year-Over-Year Change
April 2017 -- 4,816
The average price of a single family home reached $486,480 in April, a year-over-year increase of 11%. Home prices were 4% higher than March, the biggest month-over-month increase we’ve seen so far this year.
The price of a single-family detached home reached $540,420, while condos/townhomes sold for an average of $354,489.
Sold Prices Year-Over-Year Change
April 2017 -- $437,331
New and Active Listings
As the weather warms, we continued to see sellers list their homes for sale. In April, 6,943 new listings hit the market, 5% more than this time last year and 9% more than last month.
April marked the first time we’ve seen active listings climb above 5,000 this year. At 5,640, the active listings count was 8% lower than last time this year, but 23% higher than last month.
New Listings Year-Over-Year Change
April 2017 -- 6,586
Average Days on Market
Homes continue to move off the market quickly throughout the Denver metro area. The average time a home spent on the market in April was 33 days, 1 day less than last year and 13 days less than last month.
The median number of days a home spent on the market in April was just 5, unchanged from last year and one day less than last month.
Days on Market Year-Over-Year Change
April 2017 -- 34 days
The Greater Denver Metro Market by Price Range
Demand remained strong across all price ranges in April, with 69% of new listings that came on the market resulting in a sale. The market saw the most activity from homes in the $300,000 to $500,000 price ranges, with 48% of new listings coming on the market, 11% more than last month. Sales in this range comprised 48% of all April sales. Homes priced under $500,000 continue to sell very rapidly, with the majority selling in in less than a week.