In November, pending sales increased 22% year over year, indicating demand, with 3,034 properties under contract compared to 2,486 last year. Active listings remained elevated compared to previous years but dropped 17% when compared to October 2024. Months supply of inventory increased to 2.5 months, a 25% year over year rise. Overall, typical seasonal trends dominated in November, with most metrics declining month over month, except for condo pricing, days on market, and showings-related stats.

Supply - Active Listings

In November, active supply was down month over month (-17.2%) but remained elevated when compared to November 2023, which saw 6,765 active listings.

New Listings

November saw 2,642 new properties enter the market. This data point decreased 41.5% when compared to last month, which saw 4,516 new listings. Last year at this time saw 2,612 new listings.

Demand - Pending Sales

Demand, a snapshot of new pending sales, decreased by 10.2% when compared to last month. Last year at this time we saw 2,486 pending sales.

Percent of Closed Price to List Price

This data point was equal to last year and was down 0.1% when compared to last month.

Average Days in MLS

November saw the number of days on the market at 46 days, on average. Last year at this time we saw 37 days, on average. Last month saw 43 days.

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Reports based on data from REColorado®, Inc.

GREATER METRO DENVER INCLUDES THE FOLLOWING COUNTIES:

Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market. •Information deemed reliable but not guaranteed.

Mortgage Data Source: Freddie Mac

Posted by Neil Walton on December 5th, 2024

December 2024: Denver Real Estate Market Update