The Greater Metro Denver housing market continues to sizzle across most price ranges, surpassing pre-pandemic levels. The persistent heat can be attributed to a scarcity of available homes as homeowners are reluctant to sell, causing a limited inventory. However, we expect the inventory to gradually increase and peak during the summer months.

Notably, there has been a noticeable decline in buyer demand due to interest rates hovering around 7%. Homeowners are understandably cautious about making a move amidst these higher rates. As a result, year-to-date closings have seen a 22% decrease compared to the previous year.

While the overall market still favors sellers, the balance shifts towards buyers as the sales price increases. Single Family Homes…

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Welcome to spring, where Denver's real estate market is buzzing with activity! While both active and new listings experienced slight declines in April compared to the previous month, it's worth noting that new listings hovered just above the levels we observed during the same period in 2020.

Despite these fluctuations, the demand for homes remains robust. Pending sales witnessed a notable 9.1% increase compared to last month, indicating a strong interest from prospective buyers. On average, properties spent 28 days on the market, slightly lower than the 37 days we observed in the previous month.

Interestingly, word on the street suggests that eager buyers are eagerly anticipating new listings and expressing optimism that the arrival of May, coinciding with…

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Spring has officially sprung! Realtor.com reports that the week of April 16-22 is the prime time for selling your home as spring sets in. This period presents the most advantageous housing market conditions more conducive to home sellers than any other week of the year. The real estate market is already picking up pace as homes are selling much quicker than just a month ago. With interest rates slowly creeping up, buyers are motivated to act before rates increase even further.

Supply - Active Listings

Active listings experienced a 41% increase compared to the previous year and a modest 3% rise compared to the preceding month. The present active listing volume falls between the reduced levels observed in…

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Are we seeing signs of a spring market? The Denver metro real estate market saw 3,226 new listings - 482 more new homes on the market than we saw last month (an increase of 17.6%). While still below last year at this time, demand in February was up 13.6% when compared to last month with 3,539 pending sales.

Active listings decreased month-over-month for February but jumped 68.1% when compared to last year at this time. Prices increased slightly month-over-month - the median closed price of a single-family home was $600,000, a 1.7% increase when compared to last month.

Anecdotally, we hear that due to very low inventory overall, buyers are back to needing to make quicker decisions and may compete with multiple offers. While above 2022 and 2021…

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We are officially in a Winter market. The recent cold likely put a damper on real estate activity, but typically the market starts to heat up from mid-January to March ushering in the Spring market. The year started off with 3,925 active listings - 1,829 more homes on the market than we saw in January 2022 (an increase of 87%). High prices continued with the median closed price of $588,000 being one of the highest we have seen since 2009 (only 2022 was at the same level).

Demand was up when compared to November and December - there were 3,141 pending sales in January, an increase of 40.2% when viewed month-over-month. The demand increase is likely due to fluctuating mortgage rates and the increased ability to negotiate pricing with sellers.

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Happy New Year! Welcome to 2023.

2022 in Review - The year started with the active inventory at 2,054 homes, the lowest level to start a year since we began tracking in 2009. As rates rapidly rose in April, inventory grew to a peak of 8,496 homes for sale in September, an increase of 313% over January.  From September through year-end, the number of homes available decreased, ending the year at 4,454 homes on the market.  Low inventory continues, not because of high demand, but due to many homeowners with rates below 4% opting to "hunker down."

Supply - Active Listings

Active listings were up 88% when compared to last year and down 29% when compared to last month. Sellers traditionally take their homes off the market for the holiday season. 

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November saw decreases across all market data points compared to last month, with the only increase being days on market. Prices, active listings, new listings, and pending sales all saw significant declines. Average days on market jumped 17.9% to 33 days when viewed month-over-month. Also, the percentage closed price to list price dropped 0.4% to 98.4% - the lowest it has been in 4 years. As has been the case the last few months, seasonality and mortgage rates continue to have a hand in shaping the market.

Percent of Closed Price to List Price 

This data point saw a continued drop and was down 0.4% when compared to last month. This data point is the lowest we have seen in 4 years.

Supply - Active Listings

Active inventory was up 72.8%…

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Both seasonality and increasing interest rates played a role in the Greater Metro Denver housing market in October. Buyers continued to have an upper hand - when compared to the prior two years - with more days on market and a decreased percent closed price to list price, as well as more inventory. In fact, months supply of listings was up 88.9% when compared to last year at this time.

Percent of Closed Price to List Price

This data point saw a continued drop and was down 0.1% when compared to last month. This data point is the lowest we have seen in 4 years.

Supply - Active Listings

Active inventory was up 60.2% year-over-year and down 10.1% compared to last month. 

New Listings

New listings…

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October 2022 Denver Market Update

Homebuyers and sellers in September continued to adjust to the market reset. The market adjustment brought increased inventory for home shoppers and a slight increase in homeowners eager to sell despite further softening in pending home sales. In fact, active listings were up 42.4% when compared to last year at this time. Days on market increased to 26 days on average. And, as is typical, seasonality likely played a role in shaping September numbers.

Home prices remained high, with the average single-family closed price up 0.9% when compared to last month and up 8.5% year-over-year. When viewing the single-family closed median price, we saw a 9.6% increase year-over-year.

Percent of Closed Price to List…

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September 2022 Denver Market Update

Greater Metro Denver saw more of a balanced market in August as buyers had more options compared to last year and increased time to ponder their home buying choices. Other indicators of a return to more "normal" levels include that the closed-price-to-list-price is down, prices dropped slightly, and days on the market increased. The month's supply of listings for August was at 2020 levels.

Prices remained high at $739,089 on average for a single-family home but came down 4.7% when compared to last month. For reference, the all-time high was set in April of 2022 at $819,253. 

Percent of Closed Price to List Price

This data point saw a significant drop when compared to last month and indicates a move…

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