Greater Metro Denver Statistical Update – May 2017

Thanks to Megan Aller, Account Manager at Land Title Guarantee Company, we have the latest detailed report regarding the Real Estate Market.

She starts with the following statement: Enough already.

The numbers are out for April and it’s no surprise that Metro Denver is establishing record prices. Detached single family came in at $481,187 and attached residences reported $315,587. Denver typically reports peak prices in May and June, anticipating prices to hit between $495,000 if not $500,000 for detached residences and $325,000-330,000 in the next two months.

As we get into the actual summer months of June, July and August buyers who have been hunting since the beginning of the year may be frustrated if they are still empty handed. May is the peak of activity for buyers and we see their activity start to dwindle as the days get warmer. However, the traditional listing season kicks into full gear. So we see supply rising and demand tapering off which means adjustments need to be made in pricing properties otherwise sellers run the risk of being faced with making price reductions when showing activity is slower than anticipated.

Click on the link below for the full report.

http://ltgc.us10.list-manage2.com/track/click?u=aa227e0c91948a58b931c4515&id=e129d87cbd&e=fd11acab24