Denver's Real Estate Market Breaks 16 Records In One Month

A market trends report from the Denver Metro Association of Realtors (DMAR) revealed that 16 sales-related records were broken in April 2021, reports FOX31.

During the month of April, single-family homes sold for an average of $623,825. Before April, the previous record was in March 2021 at $587,484.

“Denver is appreciating at 11.2% and is the hottest market in the country with real estate valued at 78% higher than it was in our 2008 peak,” Nicole Rueth with Fairway Independent Mortgage Corporation told FOX31.

The month of April also saw 2,584 residential properties left on the market which is the lowest April on record according to DMAR. The previous record was in 2015 with 5,025 listings.

“To sellers, the market is strongly in your favor if you’re looking to cash out at a high time,” realtor Robin Sawyer told FOX31. “If you’re staying in the Denver metro area, you’ll want to do your homework upfront and be ready for the challenges of the buyer side position.”

DMAR's report also shows "...the luxury market has experienced more growth than any other segment. In 2018, 2019, and 2020, year-to-date closed sales of properties over $1 million were 649, 654, and 661, respectively. So far, in 2021, there have been 1,353 closed sales, more than double the number of the past three years."

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