My Featured Homes + Low Number Of Houses Prompts Record High Prices

 Denver Metro Happenings

 – Bunny Trail EggVenture at the Children’s Museum of Denver, April 19
 – Cherry Creek Sneak at Cherry Creek Shopping Center, April 27
 – Annual Cinco de Mayo Festival and Parade at Civic Center Park, May 3-4
 – Once at the Buell Theatre, May 6-18
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Featured Home, Tips & News

 

Low Number Of Houses
Prompts Record High Prices

Low inventory continues to be the predominant story of Denver’s housing market, according to recent statistics from Denver’s Metrolist, Inc. Metrolist reports that the number of homes on the metro market in March dropped a whopping 60% from the previous March. The number of condos for sale showed a similar drop of 59%. This reflects a further decline from February — 8% and 17% for homes and condos respectively.

Low inventory is driving prices, which have reached record highs. Homes sold for an average of $359,900 and condos $215,700 in March, an 11% and 12% increase, respectively, over 2013. This represents a rise over prices reported in February, which had already hit record levels. Read more.

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(courtesy of RE/MAX of Cherry Creek and Guild Mortgage)