Colorado's housing market has seen a rise in sale prices as strong buyer demand, historically attractive interest rates, an improving economy and a shortage of listings are combining to create a robust seller’s market.
The Denver Metro Area's median sale price of $255,000 in May was up 8% compared with the same period last year, according to MLS data analyzed by Coldwell Banker Residential Brokerage. In the Northern Colorado counties, the median sale price is up even more – 13% to $262,000.
One of the reasons for the surge in prices is that there just aren’t enough homes on the market to meet buyer demand. Inventory has fallen to its lowest level in many years with Colorado's active listings in May down more than 50% from a year ago, according to MLS data.
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