(Courtesy: Denver Post)
Homes sales in March in the Denver metro area increased 46 percent from February and 20 percent from March 2012, according to a report released Wednesday byMetrolist.
In March, 4,333 homes were sold, compared with 2,967 in February.
Metrolist said that by all year-over-year comparisons, the Denver market is "significantly stronger than it was in 2012."
The average price of a Denver-area home is up 19 percent, to more than $295,000. The average days on the market is down 35 percent, and inventory levels are 35 percent lower than they were in March 2012.
"As low inventory levels force prices up and decrease the amount of time houses are on the market, local market competition has noticeably risen," said the report.
"Our brokers are seeing strong increases in 'flash sales,' where homes are coming under contract within days or even hours after being put on the market," said Kirby Slunaker, CEO and president of Metrolist.
March marked the ninth month-over-month decrease in available listings.