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After a completely insane two years of the market with pandemic-driven frenzy and historically low interest rates fueling record breaking years, the end of 2022 was crickets. We wondered what the new year would bring. Being out in the market, talking to colleagues and taking a look at January numbers all point to the Denver Metro housing market having a solid start to the year. There was an uptick in both buyer and seller activity. The number of listings that moved from Active to Pending status increased nearly 50% from December, which likely points to increased closings in the upcoming months.
Median Closed prices have been declining following their peak in the spring of 2022. They dipped again in January and are now 14% lower than the 2021 peak. The median closed price in January was 4% lower than the median list price. Inventory remains low.
Bullet points with January stats:
~ The median sold price for single family homes (including attached and detached) in January is $536,500 which shows a 3.33% decrease from last month (Dec) and a 1.11% decrease from January 2022.
~ The average number of days on MLS in January 2023 was 46 days, which shows a 6.98% increase from last month (Dec) and a 130% increase from last year in January.
~ Active listings at month end are 4120. This shows a 13.39% decrease from last month (Dec) and a 248% increase from last year in January.
~ Average active listings in January are 12,429 (from 1985-2021). The record high was in 2008 with 24,550 and the record low was last year at 1184. January 2023 shows active listings at month end of 4120.
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 .
#RealEstate #MarketStats #DenverMetro #MountainTimeRealEstate
