In March, the Greater Denver Metro
housing area displayed itself as an emotional market, with nearly every
statistic in the report justifying how much competition there is for
buyers as well as how far they are willing to take their offers to
secure a home.
Year-over-year appreciation is at 15.26 percent from $511,511 to
$589,587 this March, while month-over-month appreciation is at 6.90
percent from $551,542. On par with recent months, median days in the MLS
went down to four, while close-price-to-list-price ratio went up to
103.32 percent. Whether looking at detached or attached properties, it
is a strong seller's market across the board.
Theoretically, this month’s report shows that if a buyer waited just one
month to buy a $500,000 property from the end of February to the end of
March, they would have had to pay $35,000 more for that property. The
DMAR report also includes statistics and analyses in its supplemental
“Luxury Market Report” (properties sold for $1 million or greater),
“Signature Market Report” (properties sold between $750,000 and
$999,999), “Premier Market Report” (properties sold between $500,000 and
$749,999), and “Classic Market” (properties sold between $300,000 and
$499,999).
As we enter the spring selling season, new listings in the Luxury Market
are unable to keep up with buyer demand, in part because the report
shows that as prices and appreciation continue to soar, more homes cross
the threshold into the Luxury Market as a result.
New detached listings increased 28.03 percent with 402 new listings, up
from 314 last month. This barely kept pace with the pending sales
topping out at 399, a 26.27 percent increase month over month. As a
result, sales volume was also up month-over-month 57.43 percent
reflecting $558,253,910 at month-end.
Year-to-date detached new listings were up 4.23 percent from 923 last
year to 962. Pending sales skyrocketed 95.98 percent year-over-year
clocking in at 974, outpacing new listings hitting the market. In turn,
closed sales were up 70.88 percent with 757 closed detached homes, up
from 443 last year resulting and sales volume increased 79.15 percent to
$1,230,567,497. Median days in MLS dropped to just 11, which is a record
low for this market and the close-price-to-list-price ratio came in at
99.88 percent, representing a small 3.12 percent increase from last
year.
The median days in MLS in March mirrored the detached segment of the
market which currently lands at six days. Year-to-date the median days
on market in 2019 was 63, and in 2020, it was 53, while 2021 is
currently sitting at ten days.
Digging Deeper: March 2021 Records
March 2021 was yet another record-breaking month!
source: DMAR Market Trends
Committee
ACTIVE LISTINGS
(Residential) 1,921 represents the lowest inventory on record.
The previous low was February 2021 of 2,024.
(Detached) 1,122 represents the lowest March on record. The previous
record low was in 2015 with 3,325 active listings.
CLOSE PRICE — MEDIAN
(Residential) $500,000 represents the highest amount on record. The
previous record was in October 2020 of $475,000.
(Detached) $560,000 represents the highest amount on record. The
previous record was in February 2021 of $530,000.
(Attached) $353,000 represents the highest amount on record. The
previous record was February 2021 of $337,500.
CLOSE PRICE — AVERAGE
(Residential) $589,587 represents the highest amount on record. The
previous record was in October 2020 of $559,872.
(Detached) $674,990 represents the highest amount on record. The
previous record was in February 2021 of $632,481.
(Attached) $416,775 represents the highest amount on record. The
previous record was in February 2021 of $399,190.
DAYS IN MLS — MEDIAN
(Residential) 4 days represents the lowest number on record. The
previous low of 5 was set in 9 different times.
(Detached) 4 days represents a tie for the lowest number on record. The
previous low was in February 2021.
(Attached) 5 days represents a tie for the lowest March on record. The
previous low of 5 was set in 4 different times.
DAYS IN MLS — AVERAGE
(Residential) 19 days represents the lowest March on record. The
previous low was in 2018 of 26 days.
(Detached) 15 days represents the lowest number on record. The previous
low was in 2015 & 2017 of 19 days.
CLOSINGS
(Residential) 4,889 represents the highest March on record. The
previous high was set in 2020 with 4,831 closings.
(Attached) 1,617 represents the highest March on record. The previous
high was set in 2020 with 1,452 closings.
MONTHS OF INVENTORY (MOI)
(Residential) 0.39 months represents the lowest number on record.
Previous record low was in Dec'20 with 0.53 months.
(Detached) 0.34 months represents the lowest number on record. Previous
record was in Dec'20 with 0.40 months.
(Attached) 0.49 months represents the lowest number on record. Previous
record was in Mar'15 with 0.60 months.
Monthly Report is based on the
most recent previous month of MLS stats from REColorado
Source: Denver Metro
Association of REALTORS® Market Trends Committee #dmarstats
Infographics Courtesy of:
Anthony Rael, RE/MAX Alliance
Archived Denver Real Estate Market Reports
Month-end Inventory, Average & Median Sales
Prices, Days on Market (DOM), Price Appreciation, Sales Volume & More!
Archived Denver Colorado Real Estate Market Snapshots
A graphical look back at market stats and trends since
2015 : Infographics compliments of Anthony Rael
City and County Real Estate
Market Reports
Denver Colorado Real Estate Market Statistics &
Trends Reports - Main Index
April 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
February 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
January 2021 - Denver Colorado Real Estate Market Statistics & Trends Report
December 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
November 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
October 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
September 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
August 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
July 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
June 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
June 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
May 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2020 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2020 -
Denver Colorado Real Estate Market Statistics & Trends Report
February
2020 - Denver Colorado Real Estate Market Statistics & Trends Report
January
2020 - Denver Colorado Real Estate Market Statistics & Trends Report
2019 Year-End : a
30-Year Historical Perspective of the Denver Real Estate Market
December
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
November
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
October
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
September
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
August 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
July 2019 - Denver Colorado Real Estate Market Statistics & Trends
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June 2019 - Denver Colorado Real Estate Market Statistics & Trends
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May 2019 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2019 - Denver Colorado Real Estate Market Statistics & Trends
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March 2019 - Denver Colorado Real Estate Market Statistics & Trends
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February 2019 - Denver Colorado Real Estate Market Statistics & Trends
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January 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
December 2018 - Denver Colorado Real Estate Market Statistics & Trends
Report
November 2018 - Denver Colorado Real Estate Market Statistics & Trends
Report
October 2018 -
Denver Colorado Real Estate Market Statistics & Trends Report
September 2018
- Denver Colorado Real Estate Market Statistics & Trends Report
August 2018 -
Denver Real Estate Market Trends Report
July 2018 - Denver
Real Estate Market Trends Report
June 2018 - Denver
Real Estate Market Trends Report
May 2018 - Denver
Real Estate Market Trends Report
April 2018 -
Denver Real Estate Market Trends Report
March 2018 -
Denver Real Estate Market Trends Report
February 2018 - Denver Real Estate Market Trends Report
January 2018 - Denver Real Estate Market Trends Report
December 2017 - Denver Real Estate Market Trends Report
November 2017 - Denver Real Estate Market Trends Report
October 2017 - Denver Real Estate Market Trends Report
September 2017 - Denver Real Estate Market Trends Report
June 2017 - Denver Real Estate Market Trends Report
May 2017 - Denver Real Estate Market Trends Report
April 2017 - Denver Real Estate Market Trends Report
March 2017 - Denver Real Estate Market Trends Report
February 2017 - Denver Real Estate Market Trends Report
January 2017 - Denver Real Estate Market Trends Report
December 2016 - Denver Real Estate Market Trends Report
November 2016 - Denver Real Estate Market Trends Report
October 2016 - Denver Real Estate Market Trends Report
September 2016 - Denver Real Estate Market Trends Report
August 2016 - Denver Real Estate Market Trends Report
July 2016 - Denver Real Estate Market Trends Report
June 2016 - Denver Real Estate Market Trends Report
May 2016 - Denver Real Estate Market Trends Report
April 2016 - Denver Real Estate Market Trends Report
March 2016 - Denver Real Estate Market Trends Report
February 2016 - Denver Real Estate Market Trends Report
January 2016 - Denver Real Estate Market Trends Report
December 2015 - Denver Real Estate Market Statistics & Trends Report
November 2015 - Denver Real Estate Market Statistics & Trends Report
October 2015 - Denver Real Estate Market Statistics & Trends Report
September 2015 - Denver Real Estate Market Statistics & Trends Report
August 2015 - Denver Real Estate Market Statistics & Trends Report
July 2015 - Denver Real Estate Market Statistics & Trends Report
June 2015 - Denver Real Estate Market Statistics & Trends Report
May 2015 - Denver Real Estate Market Statistics & Trends Report
April 2015 - Denver Real Estate Market Statistics & Trends Report
March 2015 - Denver Real Estate Market Statistics & Trends Report
February 2015 - Denver Real Estate Market Statistics & Trends Report
January 2015 - Denver Real Estate Market Statistics & Trends Report
NOTES:
Interview requests from the
media should be directed to DMAR's Marketing Communications at (303)
300-8490
MLS stats are tracked in arears, so the published report is
for the previous month-end activity
The DMAR 'Premier
Market' is defined as $500,000 to $749,999
The DMAR 'Signature
Market' is defined as $750,000 to $999,999
The DMAR 'Luxury
Market' is defined as $1,000,000 and over
11-Counties:
Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas,
Elbert, Gilpin, Jefferson & Park
Research: Denver Metro
Association of REALTORS® Market Trends Committee
The DMAR Market
Trends Committee, part of the Denver Metro Association of REALTORS®,
provides timely, consistent, and relevant monthly summaries of valuable
local real estate market statistical data for both its members and the
general public. Statistics from the “Denver Metro Real Estate Market
Trends Report” provide data for the following counties: Adams, Arapahoe,
Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin,
Jefferson, and Park. Source of the reported data is REcolorado.
Stats & Infographics
Courtesy of:
Anthony Rael, RE/MAX Alliance
