|A LOOK AT THE MARKET
As the Denver market continues to warm up, the median sales price for detached, single-family homes came in at $600,000 for February, a slight increase compared to January.
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However, buyers are taking time to shop around before committing to buying at today’s rates. Average days on the market for February came in at 49, flat compared to January and up 250% over 2022. That’s likely why sold listings dropped significantly year-over-year as well.
And despite the small uptick in prices, buyers are negotiating and paying an average of 98.8% of the asking price. Last February, they were paying 105.1% of asking.