West Line Village
March 26, 2021
While conversations over coffee swirl about the state of Denver’s real estate market, now is the best time to invest in real estate. Low-interest rates, new construction, and job opportunities flowing to Denver mean the time is now. While real estate markets fluctuate all the time, the real question comes when trying to decide to purchase in a specific area. If you buy now, are you buying at the top of the market? Should you wait until some of the market value goes down? Looking at projected home prices and trends in the area you’re interested in can help. Will Denver’s housing market continue to be sizzling hot in 2021? The average price for detached properties in the Denver Metro was $632,581 in February of 2021. The median price was $530,000, up 22% year over year and 4% month over month. Detached properties saw a 1.80 percent decrease in closed properties while attached properties saw a 16.29 percent increase in closings relative to last year at this time, according to a recent report released by DMAR.
The average price for attached properties in the Denver Metro reached above $400,000 for the first time in February. 1,520 pending transactions for attached properties also represented the highest February on record. The competition remains incredibly high in the Denver housing market.
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