Denver Buyer's Newsletter: April
Welcome to our Denver Buyer's Guide Newsletter! Our mission is to help you navigate the vibrant Denver real estate market with ease, providing you with the latest insights and tips to make informed home-buying decisions.
Mortgage Interest Rates
Over the last 30 days, the average 30‑year fixed mortgage rate in Denver nudged up from 6.63% to 6.64%. This slight 0.01 increase means a buyer financing $617,500 would see their monthly payment move from about $3,957 to $3,960—a $3 difference.
Bankrate’s outlook suggests rates will hover in the 6% range, occasionally spiking above 7% but unlikely dropping below 6%. They’re projected to settle near 6.5% by late 2025, holding relatively steady for now.
Market Trends: Favoring Buyers
Sellers are listing more homes than they did a year ago, while buyers are actively making offers. With more listings available and prices remaining stable, buyers who move thoughtfully can secure favorable deals. Sellers are accepting offers close to list price, and homes are taking slightly longer to go under contract—about a week more than this time last year—giving you a bit more breathing room to decide.
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Sellers added 9,200 homes to the market, significantly outpacing last year.
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Buyers placed 4,600 properties under contract last month, a 14% increase from one year ago.
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Median prices rose about 1.8% to $651,000, indicating modest upward pressure on values.
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Inventory stands at about 2.7 months, up 50% from last year.
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Average days on market is now 47, making it easier to schedule showings.
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Offers typically end near asking price, allowing limited but valuable negotiation.
Homebuyer Tip of the Month: Get to Know Your Neighborhood
Consider conducting a thorough neighborhood analysis before making an offer:
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Start by researching local amenities, schools, and future development plans.
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Visit the area at different times of the day to get a feel for the community.
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Talk to current residents to gather personal insights.
This approach ensures you choose a location that not only meets your current needs but also has potential for future growth and satisfaction.
Embarking on your home-buying journey in Denver is exciting, and we’re here to support you every step of the way. If you have any questions or are ready to take the next step, feel free to reach out. Let’s find your perfect Denver home together!