The Spring housing market is in full swing and we’re seeing a wider selection and more first-time buyer activity. And an interesting statistic states that around 35 percent of mortgage borrowers in metro Denver are “equity rich,” meaning their homes are worth at least twice as much as what is owed on the property, according to AATOM Data Solutions. In the Denver Metro market (including Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we also saw:
- 2,928 total single-family homes sold; up 21.44 percent from last month
- Average sold price in the single-family home market was $530,897 (up 3.27 percent from last month)
- Median sold price in the single-family home market was $450,000 (up 3.69 percent from last month)
- Average sold price in the condo market was $360,875 (up 3.27 percent from last month)
- Median sold price in the condo market was $300,000 (up 0.64 percent from last month)
- 6,292 active listings at the close of March, up 4.57 percent from the previous month
To see additional statistics, you can see the full report courtesy of the Denver Metro Association of Realtors.