So, How’s the Market? | March 2024

In March, buyers continued to enter the market as 4,343 contracts were executed on homes. This is 8% more than last year and 33% more than last month.
Homes spent a median of 12 days on the market before going under contract.
Home closings increased for the third month in a row. 3,570 homes closed in the month of March. The closing prices were 3% higher then last month and 5% higher than last year at this time.
In March, 5,020 fresh listings were added to the MLS, just slightly more than last year and 18% more than last month.

Closed listings in March increased by 19% from last month but are still down by 9% from last year at this time.

The median closed price for a home in the month of March was around $595,000, which is 5% higher than last year at this time. Prices rose about 3% from February to March.

Sellers added 5,020 new listings to the market in March, which is slightly more than last March, but 18% more than last month.

Buyers executed 4,343 contracts on homes in March. This was 8% higher than last March and 33% higher than last month!

The Home listings priced in the $1 to 2 million range saw market had a strong March. Throughout the month, 365 homes in this price range closed, which is 14% more than last March. Homes priced $1 to 2 million were available in the MLS a median of 11 days. Sellers brought 546 new listings to the market in the $1 to 2 million price range, 7% more than last March.

Standing inventory was 47% higher than last March, with 6,146 homes actively available in the Denver metro area. The gross sales volume in March was 4% lower than last March.