COListings provides a monthly market snapshot to help you track the market you care about. Whether you are looking at the average sales price or days on the market, this snapshot can help you understand the market as a potential buyer or seller.
The average home sales price in April is up 4% compared to 2015 and up over $5600 from last month. The median sales price is up 8.9% when compared to April of last year.
New listings are currently down 6.2% from April last year, and there was only a slight increase between March and April of this year. Active listings are down 24.9% from last year and there is still only a 2 month supply of inventory currently available.
In April of 2015, the average days on the market was 60. This year, it is down to 53 days with a 99.9% list price received on home sales. The year to date (YTD) number of homes pending or under contract is reported at 37,788 which is up over 5% from last year.
The April snapshot shows inventory is still low and homes that are listed are selling fast. Being a buyer in this fast moving and competitive market can be frustrating and you could easily find yourself competing against other buyers for a home. This doesn't mean you have to settle or wait. Realtors at COListings have competitive strategies to help you navigate in a sellers market. Reach out to COListings for the help you need during the home buying process.
Source: "April Market Report," Colorado Association of REALTORS® (April 15, 2016).