Well, we just hit a new record and a new milestone in metro-Denver. Average sales prices just exceeded the half-a-million-dollar mark! Average sales price for single family properties in metro-Denver in March was $513,479. And prices are expected to continue to grow rapidly for the next few months.
Due to low supply and high demand, prices begin to rise rapidly in March through June when they typically peak based on market trends over the past several years. Prices rose 3.8% alone from February to March this year. As mentioned in last months market update, this year is poised for strong growth, and March market statistics prove we are off to a incredible start.