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March 2017 Denver Market Trends Report

Snapshot of our Denver Market (according to the Denver Metro Real Estate Market Trends Report, March 2017)


February 2017 represents a NEW RECORD LOW for any month with listings! That is dating back further than 1986! Just to give you some perspective we were at 3,878 total units listed February 2017 compared to the all-time high in 2006 at 25,484.
Quick stats
Single Family (detached, not including condos)
Active Inventory 2,918 (-2.51% prior month, -7.60% year over year)
Sold Inventory 1,958 (-14.31% prior month, -13.25% year over year)
Average Sold Price $447,838 (+0.13% prior month, +8.59% year over year)
Median Sold Price $394,000 (+3.68% prior month, +11.38% year over year)
Average Days on Market 43 (-10.42% prior month, -10.42% year over year)

Other interesting market trends:
• Realtor.com reported Denver is one of the fastest cities to gentrify, and 32.8 percent of the city is already gentrified.
• According to NerdWallet, Denver will be the second-best city for job seekers in 2017.
• Single family rents in Denver are the 4th highest in the U.S. according to Rent Range, up 10.2 percent in the fourth quarter of 2016.
Interested in hearing more about our current market? Would you like a copy of the Market Trends Report? I’m always happy to talk about it, just give me a call!

Chantal Gemperline, Broker Associate
Private Label Realty
970-215-1438
www.CSellsDenver.com
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