Median sales price hits record $400,000 for Denver metro single-family home

March brings seasonal spike in new listings across Colorado’s housing market.
Key findings from the March 2017 research report include:

• 46 percent increase in new single-family listings and 32 percent increase in townhouse/condo listings across the state from February to March
• Despite increase in listings, strong sales keep inventory at record lows – down 35 percent from one year ago
• Median sales price for single-family home in the Denver metro area hits record high $400,000
• Denver metro townhome/condos hit median sales price of $260,000
• Denver Metro area has 50 percent fewer active listings than one year ago
• Statewide median sales prices up more than 10 percent from year prior
• Median sales price for single-family and condominium/townhomes across the state rose 3.2 percent and 4.8 percent, respectively
• Statewide there is a 1.9 month supply of inventory, while in the Denver Metro area there is just 1.3-month inventory supply

Click here to see full reports from Colorado Association of Realtors