Uncategorized December 14, 2022

November 2022 Denver Market Overview | Roller Coaster Year

It has been a real estate roller coaster of a year.  With the continued cooling in November, it is hard to believe that six months ago homes were selling in a day, for over list price with no inspection items and appraisal gaps.  The market has certainly changed.

The average days in the MLS  increased 20 percent month-over-month to 36 days; a 140% increase from this time last year.  Median sales price continues to see an increase year over year, but we are no longer seeing the double-digit growth that we experienced earlier this year and last. More than half of the homes that sold in November had a closing price that was lower than the original list price.

Quick bullet points on the Denver Metro:

~ The median sold price for single family homes (including attached and detached) in November is $567,000 which shows an 6% increase over November 2021.

~ The median number of days on MLS in November 2022 was 22 days, which shows a 17 day increase from last year in November.

~ New listings decreased by 28% in November 2022 from this time last year.

~ Average active listings in November are 13,858 (from 1985-2021).  The record high was in 2006 with 27,530 and the record low was last year at 2248.  November 2022 shows active listings at 6253.

Please reach out with any questions.  I am happy to help.

If you have any questions or would like to discuss selling or purchasing a property, contact me today at 303-949-9683 or Amy@MountainTimeRealEstate.com .


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