Market Trends Report March 2018

Find the March 2018 Market Trends Report as listed by Denver Metro Association of Realtors. Here are the main highlights:

• Denver metro homebuyers need an average annual salary of $79,180.65 in order to afford a median-priced home, according to a quarterly update from HSH.com, a mortgage research firm.
• Some listings are getting up to 90 or more showings so it’s important to make sure the listing is monitored. If you have a hot listing, have the listing agent or an agent in your office hold an Open House and monitor the property while people visit to protect the seller.
• We continue to see price reductions up to three percent on properties listed above $500K, as sellers seem to be shooting for the moon when setting a listing price
• As buyers are placing offers over list price, appraisers are struggling to keep up with the market and are oftentimes appraising the property below the contract price.

See the full report here