April 2019 Housing Market Statistics
The latest housing market statistics from REcolorado show all major market indicators are up compared to this time last year.
Although up just slightly from last year, more homes sold in April than we’ve seen in any other April in more than a decade. Throughout the month, 5,044 homes sold in the 11-county Denver Metro Area, up 0.2% from last year and 12% more than last month. Year to date, sales are just 2% lower than this time last year, indicating we’re on pace for another busy sales season.
Contracts were put in place on 6,442 homes in April, up 11% from last year and 18% higher than last month.
Home Sales Year-Over-Year Change
April 2018 -- 5,036
The average sold price of a home inched closer to the half million dollar mark in April reaching $496,396, an increase of 1% from last year and a 4% increase compared to last month.
Single-family detached homes sold for an average price of $552,898, up 1% year over year. The price of condos/townhomes was up 3% from April 2018, at an average of $365,646.
Sold Prices Year-Over-Year Change
April 2018 -- $489,786
New and Active Listings
Sellers continued to bring more new listings of homes for sale to the market in April. Throughout the month, 7,523 listings hit the market, an increase of 20% compared to last month and 8% more than last year. Year to date, new listings are up 7% year over year.
The count of active listings of homes for sale at the end of April was 7,869, 39% higher than last year and 25% higher than the end of last month.
We currently have 7 weeks of inventory, 1 week more than last month, and 2 weeks more than last year at this time.
New Listings Year-Over-Year Change
April 2018 -- 6,944
Average Days on Market
In April, homes spent an average of 41 days on the market, 7 days fewer than last month but 8 days more than this time last year. On average, single-family detached homes were on the market 34 days, while condos/townhomes were on the market 57 days.
The median amount of time a home spent on the market in April was 8 days, 3 days more than this time last year.
Days on Market Year-Over-Year Change
April 2018 -- 33
The Greater Denver Metro Market by Price Range
The April housing market saw the most activity in the $300 to 500,000 price ranges, with 47% of all new listings and 49% of sales. At the end of the month, 36% of all active listings were priced between $300,000 and $500,000. Homes in these ranges are in high demand, spending an average of only 31 days on the market.