APRIL 2020 MARKET OVERVIEW

The Metro-Denver housing market was tremendously impacted COVID-19 in April. Home showings dropped to a record low mid-month due to the Stay-at-Home order. However, when restrictions were lifted on April 27, approximately 3,500 showings were scheduled that day, more than any other Monday in 2020.

Despite an understandable fear of the virus and new requirements (virtual showings, masks, booties, hand sanitizer), 3,280 homes were put under contract and 4,679 listings came onto the market in April. While much less that the previous month, it shows a continued desire for sellers to sell and buyers to buy.

And, it's still a seller’s market. Home sellers received an average of 99.96% of the list price in April and sold their homes in an average of 20 days compared to 30 in March and 29 days in April of 2019. 

Amazingly, despite the uncertain outcomes of the pandemic, Denver-area residential real estate was down only 1.8% from the record average close price in March of $512,386, but that’s still up 1.5% year over year and up almost 4% since the beginning of the year. 

While things have changed massively, restrictions have been loosened somewhat (in person showings are allowed with proper precautions) and sellers continue to put their homes on the market. 

If selling or buying is a priority now or a goal in the near future, contact me.

We're all in this together and we'll get through it together!