According to LIV Sotheby’s International Realty’s (LIV SIR) Q1 Micro Market Report, which compares real estate data through March of this year compared to the same frame in 2021, the number of homes sold across the six-county Denver Metro area decreased slightly in comparison to the exponential growth that the market was experiencing last year. Through March of this year, there have been 10,740 homes sold – down 11.1% from 2021.

Despite the small decrease in property sales, home values in the area are still appreciating, incentivizing sellers to list their homes on the market and in turn creating additional inventory for buyers to choose from. During the first quarter of the year, the average price for a single family home in Denver Metro by 16.1% – bringing the average single family home price to $743,411. Looking at attached homes, the average price through Q1 was $467,706 – a 16.7% increase.

According to the year-end Micro Market Report, produced by LIV Sotheby’s International Realty, which summarizes Denver Metro’s market performance during 2020 in comparison to 2019, the Mile High City had a record year. While the city had a decline in inventory, dropping 2% from 2019 levels, bringing just 67,495 new listings onto the market last year, rising appreciation for available single family (+9.6%) and attached homes (+4%) paired with a boost in overall listings sold (+13.5%) contributed to the 22.4% increase in overall sales volume in 2020.

Heightened demand for Denver Metro homes placed buyers in stiff competition due to a limited number of listings last year. These conditions accelerated the timeline for many buyers and sellers, decreasing the average days on market for Denver Metro homes by 21.9%, from 32 days in 2019 to 25 days in 2020.

Combining the best of city and open space, it’s no wonder that Denver Metro is consistently ranked as one of the best cities to live in the nation. The Mile High City, and the colorful communities that surround it, provide its residents with all of the amenities, dining, and shopping options that are expected of an urban setting with the added bonus of being centrally located to endless outdoor adventures. With more than 200 city parks, miles of biking and walking trails, and easy access to the Rocky Mountains, Denver is a social distancing sanctuary – making it a hot spot for homebuyers looking to invest in a new place to call home.

LIV Sotheby’s International Realty reports on the Denver Metro real estate market, which is sectioned into 50 unique neighborhoods. When comparing the Q3 performance of 2020 to that of 2019, sold listings have increased by 2.4%, which illustrates the consumers’ desire to purchase homes in Colorado’s capital city and surrounding communities. The average sold price for single family homes through Q3 showed an upward trend, growing by 6.6.%, bringing the average sold price to $562,917. The average sold price for attached residences rose by 3.3%, making the average sold price $372,918. As a result of these price increases paired with the rise in listings sold, the overall total dollar volume sold rose by 0.5% through Q3 when the total reached $19,752,971,957 compared to last year when the total sale volume reached $19,649,402,461.

Within the 50 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity through Q3 of 2020. Properties in Greenwood Village under one acre saw an impressive increase in listings sold, growing by 81.1%. Through Q3 of this year, there were 67 homes sold in this community compared to the same time frame in 2019 when there were 37 homes sold. City Park, a neighborhood popular for its location near downtown Denver and the green space of City Park, also saw an increase in properties sold, growing by 35.4%.

Average home prices in the City of Denver grew by 1.3% through Q3 of this year in comparison to the same time period last year. The average price of homes in this area was $548,153 during January through September. Properties over one acre in Cherry Hills Village saw the most significant increase in average price, rising by 25.7%. The average price of homes set on over one acre in Cherry Hills Village through Q3 was $3,286,691.

Thanks to the demand for properties in Denver Metro, the days on market for all neighborhoods decreased by 10.3%, dropping from 29 days to 26 days. Out of the 57 neighborhoods that makeup Denver Metro, Sloan’s Lake saw the most dramatic decrease, falling from an average of 51 days on market to just 18 days – a 64.7% difference.

Denver Metro caters to a variety of lifestyles, from urbanites to outdoor enthusiasts, and everything in between. As more consumers decide to make the Mile High City their home, the real estate market will continue to thrive. Here, both buyers and sellers can reach their lifestyle and financial goals in the housing market.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Cheesman Park, Cherry Creek, Cherry Hills Village, City Park, Columbine Valley, Congress Park, Cory-Merrill, Columbine Valley, Country Club, Crestmoor Park, Downtown (condos), Golden Triangle, Greenwood Village, Hale Mayfair, Heritage Greens, Highlands, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lowry, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, RiNo, Sloan’s Lake, Southglenn, Southern Hills, Southmoor Park, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.

Consistently ranked as one of the best cities to live in the U.S., Denver Metro is an epicenter for art, culture, music, business, and adventure. The Mile High City and its surrounding communities have something for everyone, as you can enjoy many lifestyles. From professional sports, gourmet restaurants, stunning street art, and iconic live music venues, Denver has it all. What’s more, each neighborhood within Denver County is as unique as the snowflakes that grace this city in the winter. These characteristics and features such as amazing public parks, access to public transportation, and other amenities are what attract homebuyers from across the country.

LIV Sotheby’s International Realty reports on the Denver Metro real estate market, sectioning into 58 neighborhoods. Collectively, comparing the Q1 performance of 2020 to that of 2019, sold listings increased by a notable 8.1%, which brought 10,888 sold listings to the market. The average price in Q1 showed an upward trend, growing by 6.6% for single family homes and 3.9% for condominiums. As a result, the overall total dollar volume sold rose by 13.4% in Q1 when the total reached $5,248,863,111 compared to last year when the total sales volume reached $4,629,021,069.

Within the 58 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity throughout Q1 of 2020. Southglenn saw a formidable increase in properties sold, growing by 133.3%. During Q1 of this year, there were 14 homes sold in this community compared to the same time frame in 2019 when there were just six homes sold

Single family homes and condominiums in Cherry Creek East and South saw the greatest increase in average price during Q1 of 2020, of 50.6%, in a comparison to Q1 of 2019. Through March of this year, the average price for single family homes and condominiums in this community rose more than in most other neighborhoods.

Homebuyers in Crestmoor were very motivated during Q1 of 2020. Listings in this community were on the market for 78% less time, averaging only nine days in Q1 of this year compared to 41 in Q1 of 2019. Heritage Greens also saw a drop in average days on market, decreasing by 60.6% , from 71 days in the first quarter of 2019 to 28 days in the same time period this year.

Because of an active and continually growing real estate market, Denver Metro’s array of neighborhoods present buyers and sellers with opportunities to reach their real estate and lifestyle goals.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Bell Mountain Ranch, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Castle Pines North, Castle Pines Village, Cheesman, Cherry Creek, Cherry Creek North, Cherry Hills Village, City Park, City Park, Cory-Merrill, Columbine Valley, Congress Park, Country Club, Crestmoor, Downtown (condos), Golden Triangle, Greenwood Village East, Greenwood Village West, Hale Mayfair, Heritage Greens, Highland, Highlands Ranch, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Keen Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lonetree, Lowry, The Meadows, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, Pradera & Timbers, RiNo, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.