Denver Real Estate Report | March 2020
March started out strong for the Denver real estate market, but the impact of coronavirus caused activity to slow down toward the end of the month, particularly as shelter-in-place orders went into effect on March 24. While real estate has been designated as an essential service, social distancing guidelines are strongly being implemented.
New listings in March. While the total number of homes put on the market grew 21% compared to March 2019, new listings in the last week of March were down over 80% due to COVID-19.
The median percentage of a home’s original list price that it ended up selling for. This suggests that sellers haven’t had to make big price cuts in order to get their home sold. In the Denver area, this typically ranges from 97-99%, so this is on the high end.
Decrease in homes that went under contract this March vs. last year. While many buyers and sellers have decided to hold off right now, there were still nearly 4,000 homes that received an offer last month.
“While many in Denver have opted to wait until the COVID-19 crisis subsides, some buyers are capitalizing on this rare opportunity to purchase without the intense competition that has driven the Denver market for the past 7 years. It’s refreshing to show highly desirable homes to my clients and not have to compete against 5 other offers while the price is driven up as the result of a bidding war.”
— Peter Winscott, Orchard Home Advisor
-- 10906 Touchstone Loop, Parker
Received an offer in 14 days at 98% of list price
Recently Listed
We’ll be updating this post in real-time with new information about how we’re working with customers in each of our markets and answering your questions about the real estate market.
Say goodbye to the days of needing to sell your home before buying a new one. There’s an easier way, and our FREE guide breaks down how it can work for you.
On top of Orchard’s Home Sale Guarantee, we list, prep, and show your old home after you’re all moved out.
Grow your business and make $50-$70K more per year.
When you list with Orchard, we’ll get your home show-ready and make repairs to increase your home’s value at no upfront cost.
Orchard guarantees your home will sell, so you can buy your next one worry-free.
On top of Orchard’s Home Sale Guarantee, we list, prep, and show your old home after you’re all moved out.
Use our home sale calculator to estimate your net proceeds.
Our Home Advisors are experienced local agents who know how to sell for top dollar and help win your dream home.
All Orchard Home Advisors are experienced agents who know your local market inside and out. Request a consult today.
Did you know cash offers are 4x more likely to be chosen by a seller? Let us help you make one on your next home.
Get the most accurate free home valuation — in minutes
Orchard Home Loans shops the market to find your best rates.
A cash offer is 4x more likely to be chosen by a seller. Get qualified today.
Make a cash offer now, and Orchard will sell your old home after you move.
Tell us your must-haves to see personalized home recommendations that meet your criteria.
With Orchard, secure your dream home before you list. Avoid home showings, rentals, and double moves.
Learn More
