DENVER (KDVR) — The Denver Metro Association of Realtors market trends report shows 16 sales related records were broken last month. One of the records is the average price of homes being sold.
In April, single family homes sold for an average of $623,825. The previous record was in March 2021 of $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,” said Nicole Rueth with Fairway Independent Mortgage Corporation.
The increase in price is a matter of supply and demand.
“We are in the midst of a housing frenzy in the Denver metro areas right now with low supply and high demand,” said Robin Sawyer, a realtor with 26 years at RE/Max.