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With much of the 2024 year seeing mortgage rates increase, December was a welcome month. Mortgage rates fell steadily in December and Buyer activity picked up in the Denver Metro area. Throughout the month of December, Buyers executed contracts on 2,469 listings, which is an increase of 13% compared to last December. The number of listings pending sale is a leading indicator of home closings that could take place in the coming months. This is a positive sign as we head into 2024.
Bullet points with December stats:
~ The median sold price for single family homes (including attached and detached) in December is $551,993 which shows a slight decrease of 2.80% from last month (November) and a slight decrease of .54% from last year.
~ The average number of days on MLS in December 2023 was 46 days, which shows a 21.05% increase from last month (November) and a 6.98% increase from last year in December.
~ Active listings at month end are 4971. This shows a 25.63% decrease from last month (November) and a 4.50% increase from last year in December.
~ Average active listings in December are 12,150 (from 1985-2022). The record high December was in 2007 with 24,603 and the record low was in 2021 with 1477. December 2023 shows active listings at month end of 4971.
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
