Denver's real estate scene is buzzing with activity as spring unfolds.  Over the past year, home prices have surged by an impressive 7.3%, indicating robust demand and appreciation in property values. Days on the market have dwindled to under 30, underlining the swift pace at which properties are being snatched up. With low inventory levels, most new listings are moving quickly. For those thinking of selling, it's an opportune time.  Meanwhile, prospective buyers must be poised to act swiftly when new listings hit the market, as good properties often go quickly. In this dynamic setting, timing is crucial, and proactive engagement is essential for securing the perfect property.

Demand…

486 Views, 0 Comments

Spring has sprung! New listings surged by 16.2% compared to last month, reaching a total of 4,707. Meanwhile, pending listings, a measure of demand, rose by an impressive 28% from the previous month and showed a 3.3% increase year-over-year. Additionally, the average days on the market decreased significantly by 17.4% to just 38 days. These robust metrics collectively signal a strong beginning to the spring real estate market.

Prices ticked up in March across Greater Metro Denver. The average price for single family properties increased 6.0% when compared to last year and were up 4.5% when viewed month-over-month. And, the average sales price for a condo was up 1.8% when compared to last month.

Demand - Pending Sales

633 Views, 0 Comments

Demand in February continued to be suppressed due to higher mortgage rates with eager buyers and sellers looking ahead to the next Federal Reserve meeting. Pending listings in February closely mirrored those from the same period in 2023. In the Greater Metro Denver area, new listings surged by 19.3% compared to the previous month, representing a significant 14.9% increase over the previous year. The average price for single-family homes remained high, surpassing historical February data dating back to 2020.

Demand - Pending Sales

Demand, a snapshot of the new pending sales, increased by 9.8% when compared to last month. This data point is nearly identical to what we saw at this time last year.

1012 Views, 0 Comments


In January, there was a substantial surge in new listings, marking an 89.3% increase compared to the previous month and a significant uptick of nearly 12% compared to the same period last year. Concurrently, demand experienced notable growth, evidenced by a 38% rise in pending listings compared to the previous month, slightly surpassing the levels observed at the beginning of 2023. The average and median prices for single-family homes remained at elevated levels, surpassing historical January data since 2019.

Informal reports suggest a shared anticipation among both buyers and sellers for potential drops in interest rates throughout 2024. This heightened interest is fueled by considerable pent-up demand within the market.

Demand - Pending…

905 Views, 0 Comments

Happy New Year! As we closed out 2023, home prices remained steady across Greater Metro Denver. The single-family home average closed price was $730,998, slightly higher than last December and relatively flat month-over-month. Condo/Townhome prices stayed strong as well, with the average closed price at $470,104, an increase of 0.9% year-over-year.

Total Closed Sales Since 2009

When looking at closed sales since 2009, 2023 most closely mirrors 2012. There were 40,444 closed sales in 2023, a 19% decline when compared to the prior year. Please see the graph below.

Total Closed Sales Since 2009

When looking at closed sales since 2009, 2023 most closely mirrors…

1194 Views, 0 Comments

As the anticipation of Christmas fills the air, the Colorado real estate market takes its seasonal siesta as inventory and demand show a typical decline. Despite this, the market remains dynamic, albeit on a slightly smaller scale.

Home prices have exhibited resilience, with the average closed price for single-family homes reaching $728,594—a modest increase compared to the same time last November. Condo and townhome prices continue to demonstrate strength, with an average closed price of $465,237. The real estate landscape in our area still remains vibrant, offering both buyers and sellers great opportunities. 

Demand - Pending Sales

Demand, a snapshot of the new pending sales reflects a decline in the…

1409 Views, 0 Comments

In October, the real estate market experienced the impact of both seasonality and fluctuating interest rates. There were fewer active listings, new listings, and pending listings compared to the same period last year. However, there was a slight increase in demand, as reflected in the number of pending listings, which is consistent with the trend observed in October 2022.

Despite these fluctuations, property prices continued to rise. The average closing price for single-family homes increased by 4.0% year-over-year, and the closed-price-to-list-price ratio reached 99.1%, marking a slight 0.3% increase from the previous year. While these changes may appear modest, they underscore the resilience and strength of property prices in the current market.

1256 Views, 0 Comments

The Denver Metro historically leads National trends, exiting the “Great Recession” ahead of the rest of the country and experiencing a surge in real estate sales during the early days of COVID-19 while the rest of the country tried to find its bearings. Flash forward to this current market in Denver. We are again proving we're ahead of current national trends, with inventory slowly growing and inching closer to a balanced market that gives buyers and sellers equal footing. 

Demand in September continued to fall from the high we saw in April of this year, with pending sales at a similar level as 2012 and 2022. 2023 is unusual in that, typically, we see demand continue to increase in the spring and summer months, with June as the busy month for…

1281 Views, 0 Comments

The trend we've observed over the past few months persisted into August. During this period, there was a decrease in new listings, active listings, and pending sales compared to the previous month and the same period last year. Many experts are now characterizing this situation for sellers as being trapped in a scenario often dubbed "golden handcuffs," where elevated interest rates are impeding homeowners from making a move.

New Listings

This data point remained below prior years. It declined slightly month-over-month and by 8.6% when compared to last year at this time.

Below is a chart showcasing August new listings from 2009 to date. Note that August 2023 listings are on-track with what we saw in 2009,…

1071 Views, 0 Comments

The real estate market experienced declines in new listings, active listings, and pending sales, both on a monthly and yearly basis. These declines can be attributed to the ongoing trend of cautiousness among buyers and sellers due to the increase in interest rates. We hear that the primary reasons for selling right now are the 5 D's; Death, Divorce, Diplomas, Diapers, or Debt. 

As for single-family property prices, they showed a slight year-over-year increase. However, they experienced a drop of 2.2% when compared to the previous month (June's price was $795,750).

New Listings

Homeowners continued to "hunker down" and were less willing to list their homes for sale due to their current low fixed-rate…

987 Views, 0 Comments