|A LOOK AT THE MARKET
With inventory remaining tight and buyers growing accustomed to today’s higher mortgage rates, homes are getting snapped up nearly as fast as they’re going on the market.
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The median price for detached, single-family homes in April came in at $640,000 compared to $620,000 the prior month. Year-over-year, that’s a drop of 5.9% which is good news for buyers.
As for home inventory, there were 3,377 new listings that came on the Denver real estate market in April, a 5.2% decrease over March and 32.7% lower compared to April of 2022. On the flip side, 3,186 single-family homes went under contract last month, so the market is moving along.