• This April saw a significant jump in new listings, with over 6,095 homes hitting the market, a 26% increase compared to April 2023 and a 22% increase from just last month. This is the fourth consecutive month of rising inventory, and so far in 2024, the total number of new listings that sellers have brought to the market is 15% higher than at the same point last year.

• Demand from buyers is also strong. Home sales are on the rise, with 3,837 closings in April across the 11-county metro area. This represents a slight increase from last year and the third consecutive month of rising closings.

• Median closed prices reached a record high of $602,000 in April, which is 4% higher than last year and 1% higher than last month.

• The number listings pending sale increased by 7% from March to April, following a significant 27% jump from February to March. Listings pending sale are a leading indicator of future closings, suggesting we might see continued sales activity in the coming months. Homes moved off the market in a median of 9 days, 1 day more than last year but 3 days quicker than last month.

• The number of properties leased using REcolorado MLS dipped slightly compared to April 2023 but was 20% higher than last month. The median rental price also saw a slight increase of 2% year-over-year. To keep pace with demand, 412 new rentals were added to the market in April, a 20% increase from the previous month.

*Information provided by REColorado. Click here for the full report.