Denver Metro Market Report, Mid-Year 2017

Denver’s time in the sun as one of the nation’s most desirable destinations,
whether for a job or purely discretionary reasons, continues with no signs
of abatement. Although the flow of newcomers has tapered slightly in
2017, the real estate market remains robust, and strongly favors sellers. Both new
listings and new sales have increased year-over-year, but the increase
in sales (6.1%) is about double the increase in inventory (3.3%). Excess
demand and short supply drive prices higher (average is up 7.9%), and
average time on the market dropped from 25 to 23 days. Full price offers
are the norm with an average list price to sell price ratio of 99.7%.  Denver ranks among the top markets in the nation for price appreciation at 10.85% in the last year.  Overall, the Denver metro market continues to grow, and at just over $11B year-to-date in Total Dollar Volume Sold, is running 14.5% higher than the same time last year.  We’re entering our third year of double-digit increases, and provided that there are no major disruptions to the economy or other unforeseen events,
we expect those numbers to continue to rise (coloradorealestatediary.com).