Metro Denver Real Estate Market Report

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Denver Home Prices

As summer stepped out the door like a backpack clad child happily (you can read the sarcasm, right?) skipping off to school, August rode on by like the buzzing yellow school busses shipping those very happy kids off to school.

The thing is, all that bustle and fuss focused on moving back into a daily rhythm - August energy veers away from springtime house hunting and toward schedules, school days, and daily commitments.

Agents know that the real estate market steps in tune with the school calendar, so comparing this August’s trends to August of last year provides more insight than a comparison to last month.

You’ve read it in the news and heard the water cooler discussions: real estate trends aren’t what they were in May. The August

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"The current data is hinting that the extreme sellers’ market is showing some early signs of easing,” explains listing agent Rebekah Robinson. This month’s market report from The Denver Metro Association of Realtors reveals several clues that buying an affordable Colorado home may become much less stressful in the near future.

CLUE 1: Average days on market 27 (Went down almost 7% since last month, but has gone up almost 4% since this time last year!)

Although homes are spending less days on the market as compared to last month, we’re seeing homes wait a bit longer to sell than this time last year. This means that buyers have a bit more time to get offers in and may be facing less intense competition.

CLUE 2: Active inventory is up by close

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Denver Real Estate Market Report for June 2017 - As Colorado real estate takes its steady step up into summer, buyers are feeling the heat. With increases in listings lagging and ballooning numbers of buyers, Colorado home costs are on the rise and Denver homes for sale are going quickly. Sellers, take heart knowing that your home equity is in the safe hands of a booming market. But buyers, be on your toes for a lightning-paced purchasing process.

Single family homes were on the market for less days than the same time last year and the average price of a detached home was $490,700 - that’s almost a 10% increase over May of last year! Active inventory is up as well, but not quite enough to keep up with demand. Our Live Love Wag team pointed out

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Spring in Denver brought an uptick in active listings, under contracts, and average sold prices. Some stabilization in the market may be on the horizon though. The continued rise in cost of low-end properties will most likely cause less demand and a slow leveling off of home prices.

Live Urban Agent, MaryLemieux shares this month's market report.

 May 2017 Metro Denver Real Estate Report 

may 2017 denver metro luxery market report

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Denver Real Estate Market Report April 2017

March began the Denver Real Estate Market’s typical spring upswing and April is poised to follow! Listings, prices, and contracts continue to balloon, at an even greater rate than the standard spring increase. Moving trucks can be seen on nearly every block in the most popular areas of the greater Denver area and it won’t stop there! With good news for buyers and sellers alike, April is sure to be a red-letter month for the residential real estate industry.

A rise in new listings has created a friendlier market for buyers, though buyers can still expect to face multiple offer situations. According to Live Urban Agent, Doug Yetman, “The highly competitive market is the new standard, with multiple offers

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Apparently, spring has already arrived in Denver. Not only are we experiencing unusually warm weather, the Denver real estate market is heating up earlier than ever. February experienced a surge of new listings with a month-over-month increase of nearly 20 percent, and a year-over-year increase of 6.81 percent.

However, the healthy increase in new listings was squelched by an equally healthy increase of properties placed under contract. Homes under contract increased 17.82 percent from last month, and 4.79 percent from February of last year.

Lots of homes can on the market, and lots of homes quickly sold. Leaving the number of active listings in the residential market at 3,878 total units in February, representing an all-time low for any month on

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As 2016 has drawn to a close, the report identifies highs and lows in the housing market last year and how it compared to previous years.

“2016 will go down as another robust market defined by record-low inventories and record-high prices,” states Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent.

“First, housing inventory has been an issue as evidenced by historically low numbers for the past three years,” he said. In February, DMAR recorded 3,963 active listings at month end, representing the lowest number of any month since housing data started being tracked in 1985. December 2016 finished with 4,265 active listings, which was 68.9 percent less than the historical December average of 13,702, and beat the

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As 2016 comes to a close, the report spotlights how the hot real estate market fared this year, experiencing both record highs and lows.

In July, Denver-metro hit an all-time high for the average sold price of a home at $420,178 and median sold price at $365,000. February marked a record low for month-end inventory at 3,963; comparatively, the all-time high was in July 2006 at 31,989 listings.

“As we spend time with friends and family enjoying all the turkey and trimmings, we also give thanks to another hot summer selling season,” said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “In reflecting on the good and not so good of our summer housing market, the question on the mind of many REALTORS® today

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Denver Metro Housing Report for November 2016

Year-over-year average price of homes sold is up 9.96 percent to $398,588. However, the number of homes sold in October dropped 11.43 percent compared to last year, and the pace of new listings coming onto the market is slow with 9.87 percent fewer homes year over year. Notably, 2016 represents a new record low in listings for October with 6,731, compared to the previous low record in 2014 with 6,748 listings. From 1985 to 2015, average active listings for October is 16,615. For comparison, the record high October was 2006 with 29,722 listings.

 

“With election season coming to an end, an important question we face is how it will affect the metro Denver housing market.” said Steve Danyliw,

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September produced a seasonal slowdown, however indicators point to above-normal numbers of active listings.

According to the DMAR Market Trends Committee, these indicators combined with homebuyers anxious to lock-down low-interest rates could make for a hot real estate market heading into the fall.

“The beginning of fall typically ushers in two things - the Rockies being officially eliminated from post-season play, and the number of homes sold in the Denver real estate market tapering off after a blistering hot summer,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “Having said that, this fall could still shape up to be the hottest home market in the last decade." 

As the DMAR Market Trends

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