January 2023: Denver Real Estate Market Update

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.

New Listings

Only 1,687 new listings came on the market in December, the fewest number of homes to enter the market in a given month since tracking began in 2009. Down 35% compared to last month.

Demand - Pending Sales

Demand is down 25% year-over-year and down 13% when compared to last month.

Average Days in MLS

Days on market saw a significant increase to 42 days, on average. This was an increase of 24% when compared to last month, and 147% year over year.

Interested in Selling Your Home?

If you are considering selling your home, we would love the opportunity to earn your business. Simply complete the quick form below and we will get in touch with you ASAP,

Leave text box empty Leave text box empty

Contact Information

First Name- required

Last Name- required

Email- required _{Provide a valid email address.}

Phone Number

Mailing Address

Address- required

City- required

State

Zip Code

Property Information

Number of Bedrooms

Number of Bathrooms

Square Feet

Type of Property

Price Range

When do you plan to sell?

Additional Comments _{Please list the additional amenities of your house.}

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 January 3rd, 2023