All Denver Real Estate Blog

All Denver Real Estate Blog*** 1-877-378-8213***

Larry Hotz, Kentwood Real Estate, Greenwood Village, Colorado

  • Home
  • MLS Search
  • Relocation
    • Denver Neighborhood Finder
    • Relocation Package
    • Relocation Articles
    • Relocation Map
    • Denver Suburbs
    • Corporate Relocation
    • Denver Weather
    • Denver Realtor Testimonials You Can Trust
  • Luxury Real Estate
    • New Luxury Listings
    • Luxury Homes Blog Articles
    • Cherry Hills Village
    • Greenwood Village
    • Castle Pines Village
    • BackCountry
    • Heritage Hills
    • Luxury Gated Communities
  • Blog
    • Latest Blog Articles
    • Real Estate News
    • New Denver Homes
    • Realtor Stories
    • Denver Relocation
    • Home Loans
    • Kentwood Company
    • Downtown Denver
    • Stapleton
    • Evergreen, Colorado
    • South Suburbs
    • Boulder, Colorado
    • Highlands Ranch
    • West Suburbs
    • Louisville
    • North Suburbs
    • Aurora
  • Buying
    • Home Mortgage Rates
    • Buyer Broker Advantages
    • First Time Homebuyers
    • Denver Metro Schools
    • Denver Crime
    • Interactive Denver Crime Map
    • Denver Churches
    • Denver Synagogues
  • Selling
    • Free Home Valuation
    • Kentwood Company
    • Kentwood Advertising
    • Agent Criteria
    • Listing Services
    • Seller Tips
    • Out-State Referral
  • Our TV Shows
  • About Us
    • The Hotz Group REALTORS®
    • Meet Larry Hotz
    • Luxury Homes Realtor Elizabeth Hotz
    • Trust Meredith Hotz
    • Dotson Skaggs, Castle Rock
    • Martin Team, Littleton
    • Robert McGuire, Downtown
    • Boulder, Louisville Realtor
    • Tom Cryer, Denver Relo
    • Meet Steven Kruse
You are here: Home / Denver Real Estate News / Spring In The Denver Real Estate Market

Spring In The Denver Real Estate Market

April 6, 2016 By Larry Hotz, Kentwood Real Estate Leave a Comment

The number of single family homes in the six county Denver real estate market

Days on Denver real estate market chart

It now takes less than a week to sell a home in the Denver real estate market.

continues to drop. It now takes less than a week sell the average home.  Many sell within 48 hours of appearing in the Denver MLS at prices above asking.

“It happens every Spring.” Flowers, warm weather, romance, and a hot real estate market in the Mile High City.

Since I started selling homes in 1978, the Spring has always been the hottest selling season. More Denver relocation buyers begin their move to our desirable city. Local sellers start to list their homes so they can

The number of homes on the Denver market is at historic lows.

The number of homes on the Denver market is at historic lows.

close about the same time that the school year ends. And, of course, with warm weather, local buyers start to dream.  Just a Spring drive with the top down turns into exploring a new neighborhood and stopping at an open house – the wheels begin to turn in more ways than one.

Listings At Historic Lows

I’ve already discussed that the number of single-family listings in the Denver MLS system is at an all-time low. Only 3307 homes are for sale in Adams, Arapahoe, Broomfield, Denver and Douglas Counties. That is slightly less than the number of homes that were for sale in February and March of this year.

There simply aren’t enough listings to satisfy demand. Would-be sellers are waiting for just the right home to come on the market. But, when it does, they still have to win a bidding war with other buyers. That can be tough, not only is the competition fierce, but it can be physiologically and physically draining.

Sales and Prices Increase

Home sales are increasing as they always do in the Spring. 2775 homes sold in March. That is a 34% increase from February when only 2071 sold. More demand from buyers was chasing fewer homes for sale. Of course, the

Denver home prices

Average home prices are currently appreciating at over 14% per year based on these recent months.

result was higher prices. The price for an average home in the Denver metro increased to $432,028 in April. And, at this rate, prices could actually be higher for April by the end of the month.

Fewer homes to sell has created a true “Seller’s Market” in almost every price point in the Denver real estate market. Multiple offers are common during the first few hours on the market. Now, Sellers will generally wait a few days just to receive all offers. The first offer may be considered first, but that is up to the Seller.

Denver Real Estate Market Under $300,000

Homes priced under $300,000 are selling the fastest according to Denver MLS statistics.

Homes priced under $300,000 are selling the fastest according to Denver MLS statistics.

The hottest segment of the Denver real estate market is single family homes priced under $300,000. It’s not uncommon for those homes to receive 10 or more offers during the first few hours the home is listed.

Buyers’ agents are resorting to every trick possible to make their offer the best. They are suggesting that cash offers can carry more weight when the Buyer’s resources permit. Many agents are suggesting removing contingencies for the appraisal when Buyers are willing to take that risk. They are even sometimes suggesting removing inspection contingencies even though that can be risky. But, when a previous inspection such as from a Relocation company, can be provided it is less risky. Buyers are even writing love letter or filming a video about the house to send to the Sellers in hopes of making an emotional appeal.

Some Luxury Real Estate Sells Slower

The Denver luxury market is more in balance. Homes take longer to sell.

The Denver luxury market is more in balance. Homes take longer to sell.

Is there any market segment that is not on fire? Yes. The general rule is that luxury real estate, which is farther away from City Center, is selling less quickly and sometimes even selling below list prices.

The number of days on the market for sold homes increases somewhat above $500,000. But, the increase isn’t as dramatic until you get to the Luxury homes market above $1.5m. Even then, some markets like Cherry Hills Village can still be a Seller’s Market. We are selling some of those homes within our Kentwood office before they even become listed in the MLS and available to the general public.

Even at over 70 days on the market, Denver luxury real estate is selling faster than usual.  Historically, homes just take longer to sell at those lofty price points because there’s a smaller population of Buyer that can afford a home at this price point. Keep in mind that luxury homes that actually sold in 2016 would have gone under a purchase contract in November, December, and January. The market was seasonably slower then with more homes on the market. As the faster Spring sales are closed and recorded, days on the market is likely to fall in the range similar to the last two years.

Cherry Hills Village Market

Pricey homes in Cherry Hills Village are selling in just a few weeks.

Consider also that luxury homes in the best areas like Cherry Hills Village sold much more quickly. But, luxury homes in the “ex-burbs” and mountains were selling much slower, creating more days on the market. It takes many more days to sell luxury real estate in Castle Pines Village, Evergreen, Parker and Conifer, for example, because they are further from town.

So, in summary, the trend is that homes closer to downtown Denver or priced below average are selling very quickly, and often at asking prices at or above asking prices. The conventional wisdom tells us that this is great Denver real estate market. It is if you are a Seller. Buyers, however, need professional  help with options and strategies to cope with the competition and lack of homes for sale.

No votes yet.
Please wait...

Filed Under: Denver Real Estate News Tagged With: Denver MLS, Denver real estate Market, Luxury Denver real estate

About Larry Hotz, Kentwood Real Estate

Larry Hotz is the team coordinator at All Denver Real Estate. He is also an active real estate broker at The Kentwood Company in Greenwood Village, Colorado. He lives in the Heritage Hills neighborhood of Lone Tree, a Denver suburb. He is an active member of the Metro Denver Association of Realtors and Metrolist, the local MLS.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Easy Home Search

Search Our Website

Denver Resources

  • Neighborhood Finder
  • Denver City Neighborhoods
  • The Best Denver Suburbs
  • Home Buyers Relocation Package
  • Best Denver Schools
  • Dream Home Finder
  • Denver New Homes

Featured Properties

241 Onieda Street in Lowry

Price: $899,900 Bedrooms: 4 Baths: 4 Sq. Ft: 2,664 total Year Built: 2005 241 Onieda Street … [Read More...]

9315 S. Amison Cir. #101 in Parker, Colorado

9315 S. Amison Cir. #101 in Parker

Price: $429,000 Bedrooms: 2 Baths: 2.5 Sq. Ft: 1,662 total Year Built: 2003 Click here for 3D … [Read More...]

12116 Bryant Street, Westminster, CO

Price: $1,000,000 Bedrooms: 4 Baths: 4 Sq. Ft: 3,096+2,338 Year Built: 2014 Showings Start … [Read More...]

4151 e 17th avenue parkway

4131 E. 17th Avenue Parkway, Denver, CO

Price: $1,200,000 Bedrooms: 4 Baths: 3 Sq. Ft: 2580 Year Built: 1925 4131 E. 17th Avenue … [Read More...]

Happy Clients


Chris and Kira's Move From Texas

  More Video Testimonials

Copyright 2000-2023 by Loren Hotz Owner of All Denver Real Estate. All Rights Reserved. Loren (Larry) is a Broker Associate of The Hotz Group at Kentwood Real Estate. Some articles on this real estate blog were written by Brokers employed by various brokerages including Kentwood Real Estate as identified. Market statistics for the City and Denver Suburbs were provided by the Denver MLS search company, ReColorado.