DENVER (KDVR) — More inventory has not tamped down the feverish pace at which homebuyers pursue Denver metro homes.
The most recent report from the Colorado Association of Realtors details homebuying data in the Centennial State through March 2022. Among other record-setting trends, homebuyers are not only paying record asking prices but paying record amounts above the asking price.
In March, buyers in the Denver metro paid an average of 105.8% of the asking price, the highest ever recorded. Only the spring and early summer of 2021 came close. Before 2021, buyers didn’t pay over 102% of the asking price in the last decade.
Median sales prices have climbed to new records as well.
The March update listed a median sales price for the Denver metro area at $635,000 – a $23,000 jump from February and nearly 18% higher than the same month last year.