LIV Sotheby’s International Realty (LIV SIR) just released the Q1 Micro Market Reports (MMRs) for 2019, analyzing the real estate market for Denver Metro, Boulder County, the Foothills, Summit County, and the Vail Valley. Demonstrating a strong market, positive results were reported for each of the areas, with each city and neighborhood presenting different levels of demand. Each of the MMRs compares January through March 2019 results to the same timeframe in 2018, for single-family homes and attached dwellings in the residential areas the brokerage serves.
“The real estate market is heating up this spring,” said Scott Webber, president of LIV Sotheby’s International Realty. “Across the board, there are significant increases in average price and number of properties sold, showing that January through March of 2019 is very active even comparing to the extremely successful year that 2018 turned out to be.”
In the Denver Metro, which is sectioned into 54 neighborhoods, new listings increased by a notable 5.7%. This development led to almost 15,000 new listings so far in 2019. The average price also expanded by 2.1% and total dollar volume sold rose by 1.7%. These three indicators reinforce a healthy and active market for Denver Metro as we head into the spring and summer months of 2019.
The Boulder County Micro Market Report indicates an increase in new listings, up 12.4% compared to Q1 of 2018. Average days on market are down 1.5%, resulting in homes selling within just 66 days on average.
Many Foothills’ communities (Hiwan Hills, Genesee, Lookout Mountain, etc.) reported noticeable rises in average price and number of properties sold. A significant highlight from this year’s report includes a 113.9% boost in the average price for Hangen Ranch, bringing the new average price in 2019 to $1,465,000, from $684,950 in 2018.
Summit County (Breckenridge, Copper Mountain, Keystone, etc.) saw an increase in average price by an impressive 16.7% for Q1 of 2019 compared to 2018, increasing the average price for this year to $857,056. In addition, total dollar volume sold also increased by 4.6% compared to January through March of 2018.
As a whole, Eagle County (Vail Valley, Avon, Beaver Creek, Bachelor Gulch, etc.) saw a slight enhancement in average price by 1.3% for Q1 of 2019 compared to 2018, increasing the average price for this year to $1,335,706. Interestingly, condos, townhomes, and duplexes saw the highest increase in the number of sold listings, up by 2.4% to 169 sold in 2019.
Wondering what’s happening in your neighborhood? For a complete list of the available LIV Sotheby’s International Realty reports, visit ColoradoMarketReports.com.
To connect with a real estate advisor today to plan your financial future or to service all your real estate needs, call 303.893.3200 or visit www.livsothebysrealty.com.