Metro Denver and Broomfield Real Estate Sales - March 2023

Real estate in Denver and the surrounding suburbs has been experiencing a bit of a slowdown as we all know. According to the latest market statistics for March 2023, homes closed are down 16% year over year to 3,911. New listings are down 17% year over year to 5,024, and pending listings are down 13% year over year to 4,236.

Days of inventory have increased by 4 weeks, meaning there are now 5 weeks of inventory available. The median days on the MLS have also increased by 7 days to 11. However, despite these challenging market conditions, there is still hope for those looking to sell a home and it is a better time to be a home buyer than we have seen for quite some time.

Despite the downturn, there is still a strong demand for Denver and Broomfield real estate, and experienced Denver real estate agents can help you navigate the market. There are still plenty of wonderful homes coming on the market each week in Broomfield and the surrounding areas, ranging from cozy bungalows to luxurious mansions, and with the right guidance, you can find the perfect home for your needs.

Although the median price of a single-family home in Denver is down 6% to $565,000 from $602,500 in March 2022, this could be an opportunity for savvy buyers to get a great deal on a Broomfield home. Whether you're a first-time homebuyer or an experienced real estate investor, now is the time to consider your options and take advantage of the current market conditions.

In conclusion, while the metro Denver real estate market may be experiencing a bit of a slowdown, there is still plenty of opportunity for buyers and sellers alike. By working with an experienced Broomfield real estate agent, you can navigate the current market conditions and find the perfect home for your needs at a great price.