Monthly Housing Market Statistics: November 2020

Homes Closed

In November, more homes sold than any other November on record. Throughout the month, 5,236 homes closed, a year-over-year increase of 22% and a 19% decrease month over month.

The count of listings in Pending status was 4,811, which is 16% more than November 2019 and 18% less than last month, indicating the market has remained strong through the fall months.

Homes Closed Year-Over-Year Change

November 2019 — 4,307 November 2020 — 5,236 +22%

Prices

The Average Closed Price of a home in the Denver metro area in November was $547,094, a year-over-year increase of 13% and 2% less than last month.

The Average Closed Price for Single-Family homes was $612,984, a 15% year-over-year increase and a 2% month-over-month decrease. Multi-Family/ Condo/Townhomes closed for an average price of $387,789, a 7% year-over-year increase and a 1% month-over-month decrease.

Average Closed Prices Year-Over-Year Change

November 2019 — $486,012 November 2020 — $547,094 +13%

New Listings

Throughout November, 3,695 New Listings of homes for sale hit the market, which is 1% higher than November of 2019. Compared to last month, the count of New Listings saw a seasonal decrease of 40%.

At the end of November, there were only 3,597 Active properties on the market, 47% fewer than last year at this time and 19% fewer than last month.

Currently, there are 3 weeks of inventory, 4 weeks fewer than this time last year and unchanged from last month.

New Listings Year-Over-Year Change

November 2019 — 3,659 November 2020 — 3,695 +1%

Days in MLS

Denver metro homes spent an average of 22 Days in the MLS in November, 13 days fewer than this time last year and 2 days fewer than last month. On average, Single-Family Residences were on the market 20 days, while Multi-Family/Condo/Townhome properties were on the market 26 days.

The median number of days a home spent in the MLS in November was 6, down 14 days from last year.

Days in MLS Year-Over-Year Change

November 2019 — 35 November 2020 — 22 -13 days

Year to Date

At the end of November, most of the year-to-date indicators continue to show positive year-over-year gains. The number of Closed Listings year to date is 7% higher than this time last year and the highest count we have on record. While New Listings remain tight, the year-to-date gap remains at 2% fewer than this time in 2019. The average Closed Price is up 8% from last year due in part to high buyer demand, limited inventory, and low interest rates. Homes spent an average of 26 days in the MLS, 5 days fewer than the previous year.

Download a PDF version of the November 2020 Detailed Market Watch Report >>

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.