Average Home Prices in Denver Could Be $1 Million by Memorial Day
Home prices in the state of Colorado continue to climb every month. Could it be that the average price of a single-family home in the city and County of Denver is over $1 million in a matter of weeks?
It might happen sooner than you think. In fact, home prices in the Mile High City could reach seven figures as soon as Memorial Day. The Colorado Association of Realtors has recently released the real estate market report for the city of Denver and the prices are staggering.
In February 2022, the average sales price for single-family homes in Denver was $810,914. Home prices were driven even higher in March with an average single-family home sales price of $918,850. An increase of $107,936 in a single month.
The average sales prices for homes in Denver have increased 16 percent since last year. The average amount of time that a home in Denver is on the market has been cut in half too. In 2021, the average number of days for a single-family home in Denver to be on the market until sold was 16. In 2022, Denver's single-family homes are now only on the market for an average of eight days.
If the Denver real estate market keeps going on the current path it is on, single-family homes in Denver could be averaging a sales price of over $1 million by May 2022.
You can see the monthly reports for average home prices per month and by the county at the Colorado Association of Realtors.