Denver Metro Area Market Reports + Statistics

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Found 21 blog entries about Denver Metro Area Market Reports + Statistics.

With metro-Denver housing inventory at its highest level since October 2013 and interest rates still low, now is a good time for homebuyers. On the flip side, with home prices peaking now is also a good time for home sellers; making for a more balanced market.

Housing inventory is up 28 percent year to date from 2018. The first half of this year ended with the most active listings, at 9,520 at the end of June, since October of 2013 which was at 9,734.

For perspective, the record-high June for active listings was in 2006 with 31,900, and the record-low was in 2015 with 6,197 listings.

“I’ve heard this year referred to as the ‘Goldilocks year’ in Denver real estate - not too hot, not too cold,” said Jill Schafer, Chair of the

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The month of May recorded highest housing inventory in Metro Denver since 2013 and record-breaking average single-family home price.

In May, there were 8,789 new listings, up 16.97 and 38.12 percent from the previous month and year, respectively. At month’s end, 6,470 homes went under contract, up 5.65 and 10.5 percent from April and last year, respectively. Notably, the average single-family home price reached a record-breaking $555,482.

“Even with all of those offers written and accepted, we still ended the month with 8,891 homes for sale,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “That’s an important number to note. It’s the highest end-of-month number of active listings since November

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In April, the average single-family sold home price in metro Denver hit a record high of $553,371, and reached a year-to-date high of $527,244. The average condo sold price in April was $368,565, up 2.62 percent from March and up 2.17 percent year to date.

“Spring is a great time to take in the smell of the blooming bushes and put things into perspective because this month is all about perspective,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “Some housing market stats look like the sky is falling, but when put into perspective you can see why prices continue to go up in the Denver Metro area.”

It took twice as long to sell a house so far this year compared to this point in 2018. Schafer comments,

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In March, the number of new residential listings (single-family and condos) was up 21.75 percent from February, and buyers liked what they saw, with the number of homes going under contract increasing 27.39 percent from the month prior, an increase of 4.27 percent year over year.

“When more homes go under contract than come on the market, it begins to chip away at the surplus inventory that built up in the last half of 2018,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “While buyers are starting to push back on sellers’ list prices, they still have to put their best foot forward because, comparatively speaking, there’s not a lot of inventory to choose from.”

According to Schafer, while it’s not likely that

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In February, for the entire residential market (single family and condos), there was a 47.33 percent increase in active listings year over year generating a 5.6 percent increase in new listings compared to the month prior.

“Love was in the air in February’s real estate market. Buyers were loving homes so much they put 15.64 percent more homes under contract in the 11-county Denver metro area than they did in January,” said Jill Schafer, Chairwoman of the DMAR Market Trends Committee and metro Denver REALTOR®. “We’re definitely seeing the seasonal market pick up with the average number of homes sold in February up 4.77 percent month-over-month.”

Schafer assesses that the increase in contracts can be partly attributed to the increase in choices.

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In January, the number of new residential listings (single-family and condos) leaped 109.7 percent from December to 4,821, an increase of 13.6 percent year over year.

Active listings were up just 5.45 percent from the month prior, and up 52 percent compared to 2018’s record-low January reaching 5,881. Notably, the number of active listings is still significantly below the historic average in the month of January of 13,469 (1985-2018). 

“Choices, choices, choices! Buyers should be doing a happy dance because they finally have some choices,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “Even though the Denver metro area is still a seller’s market in most price ranges, there’s no doubt this is the best

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Despite what feels like a major market shift, home sellers in Metro Denver are still in control in all housing price ranges, except homes priced over $1 million where homebuyers and sellers are on equal footing.

In 2018, compared to 2017, the number of home sales was down 5.52 percent and housing inventory was up 44.71 percent by year-end. 2018 marked a record-high home sales price reaching an average of $473,539 and median of $409,900 for the entire residential market (single-family and condos), up 8.34 percent and 7.87 percent year over year respectively.

“Sellers celebrated in the first half of the year with a crazy blur of multiple offers and fast sales,” said Jill Schafer, Chair of the DMAR Market Trends

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Housing inventory in the Denver area is up nearly 47 percent year to date compared to last year, but sales are down.

In November, year to date, housing inventory has increased 46.76 percent compared to last year in the residential market (single-family and condos), but was down 11.82 percent from last month. Meanwhile, fewer homes sold in the Denver area in November, down 17.27 percent from October, and that dropped the number of sales year to date to less than any in the past three years.

Notably, the low months of housing inventory will keep homes prices strong according to Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®.  While the average sold price of $462,344 was down 6.3 percent from the

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