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Summer is heating up, and the real estate market in Colorado is showing no signs of cooling down soon. 

As we look forward to June, July and August, experts are predicting that the summer season could be one of the most intense times to buy a home in recent years. In traditional years and real estate cycles, peak season begins mid-spring and lasts until mid-August. However, 2020 changed the game for 2021, and the market has been consistently busy throughout the year so far. 

According to trends reports and recent articles, over 5,000 homes sold in April 2021, an increase of about 28% from 2020. With the increase in homes being sold, shorter time on the market and increased demand, prices are jumping too. The median home price for April in the Denver metro area was $526,000.

 

All of these factors are increasing competition, the market is not showing signs of slowing down soon. However, experts say a recession or increased interest rates could potentially slow it down later in the year. 

Overall, experts are predicting that as things continue to return to normal and open up more after the COVID-19 pandemic, real estate patterns with slowly return to normal and regulate themselves. 

 

Sources:

https://www.5280.com/2021/05/what-to-expect-from-denvers-summer-real-estate-market/

https://www.noradarealestate.com/blog/denver-real-estate-market/