Skip links

Monthly Market Snapshot March 2018

What’s happening in the Denver real estate market?

The Denver real estate market LAUNCHED into the spring season with huge increases across the board.  Active inventory jumped 13% month over month, new listings coming to market increased a whopping 36.44%, and homes sold rose almost 27%!  In simple terms: the warmer weather, thawing of winter, and demand for new homes drove our market out of its winter slumber. Traditionally, March is a strong month for our marketplace for these very reasons. Rates remained relatively steady, buyers and sellers became more motivated, and the market responded accordingly.  Rates are likely to begin ticking up over the next few months, affecting purchasing power.

How does this affect buyers and sellers?

Buyers:

Now is the time. This is not an attempt to create a sense of urgency but rather my professional opinion formed from the interpretation of both Denver’s and the national market’s data.  Considering how our market performed over the winter months, seeing increases in sales prices and decreases in inventory, Denver is poised to see double digit appreciation once again. If you buy a home now, you may find yourself with an additional 10% equity in your home buy year end. That is nothing to scoff at. Additionally, interest rates are going to rise.  They have been suppressed for a while now and the Fed has openly stated that this will change.  What does that mean for you? Buy now.  If rates go up, the amount of home you can afford goes down. Why wait? Get into a home now so you can maximize your budget, enjoy the market cycle this year, and not fret about any increase in rates diminishing your purchasing power.

Sellers:

Now is the perfect time to get out of your first home and into your long term home! If you have been thinking of selling, we advise that you sit down with a real estate professional and discuss your home’s value. While Denver is on pace to see a high level of appreciation, you may want to make a move now to take advantage of the hot market and lower rates.  This will allow you to earn the maximum return on your sale and use that equity to get into your dream home, beating out the increase in rates that are likely to occur over the course of the year.

Where do we go from here?

Up, for now.  All indicators lead Rhoads Real Estate to conclude that Denver is on pace for yet another very strong year.  Average sales prices are already creeping up to over $500,000 and this trend is likely to continue. It is plausible that the appreciation at year end will again reach over 10%.   So whether you’re thinking of buying, selling, or investing in real estate, now would be a good time to have a conversation with a real estate professional.  Please reach out to us with any questions as we would love to be your go to real estate resource.  See you next month!

Return to top of page