REColorado Real Estate Market Watch – December 2020
20 Jan 2021 by Greg Tiffin

HOMES CLOSED
In December, 5,113 homes closed, a year-over-year increase of 12% and a seasonal month-over-month decrease of 5%.
The count of listings in Pending status was 3,600, which is 9% more than December 2019 and 22% fewer than last month.

PRICES
The Average Closed Price of a home in the Denver metro area in December was $543,677, a year-over-year increase of 13%. Prices were relatively unchanged compared to last month. The Average Closed Price for Single-Family homes saw a 16% year-over-year increase. Multi-Family/ Condo/ Townhomes closed for 4% more than last year at this time.

NEW LISTINGS
Throughout December, 3,017 New Listings of homes for sale hit the market, which is 18% higher than December of 2019. Compared to last month, the count of New Listings saw a seasonal decrease of 18%. At the end of December, there were only 2,487 Active listings on the market, 51% fewer than last year at this time and 31% fewer than last month. Currently, there are 2 weeks of inventory, 3 weeks fewer than this time last year and 1 week fewer than last month. To put this into perspective, since 1985, the average number of active listings at year-end was 12,941. Our record high came in July of 2006 when we recorded 31,989 listings.

DAYS IN MLS
Denver metro homes spent an average of 24 Days in the MLS in December, 17 days less than this time last year and 2 days more than last month. On average, Single-Family Residences were on the market 20 days, while Multi-Family/Condo/ townhome properties were on the market 31 days. The median number of days a home spent in the MLS in December was 7, which is 17 days less than last year at this time.

YEAR TO DATE
In 2020 a record number of homes closed in the Denver Metro market. As compared to last year, 8% more homes sold. The number of New Listings that were brought to the market did not keep pace, which contributed to very low inventory levels. Homes that came on the market were quickly scooped up, spending an average of just 26 days in the MLS. Strong demand and low inventory kept prices high. The Average Closed Price for homes were higher in 2020 than any other year on record.

 

Greater Denver Metro Area Counties:
Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park

Source: https://cdn.recolorado.com/files/market-watch/2020/Market+Watch+Infographic+December+2020.pdf 

 

Greg Tiffin

As your trusted advisor, I am passionate about being attentive to your needs and goals, helping you navigate current market trends, make informed decisions while advocating for you throughout the process. My goal is to serve you so well that I become your Realtor for life and you feel comfortable referring me to the people you know and love.

I bring 25 years’ successful experience together with my team, using the latest technology to make your next move easy and enjoyable. We help home buyers search and find Denver metro area homes for sale, negotiate to our client's advantage and make moving as easy as possible. We help Denver metro home sellers prepare their home for the market, set a pricing strategy, and find buyers for their homes through innovative, effective marketing.