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Uncategorized December 2023 Denver Market Overview | That is a Wrap 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 […]
Uncategorized November 2023 Denver Market Overview | ‘Tis the Season Home buying activity has continued to see typical seasonal decreases as we have approached the Winter months. Closings were down when looking both year over year and also month to month comparisons.  Homes are staying on the market longer as buyers carefully weigh decisions.   Home buyers in November 2023, executed contracts on more homes […]
Uncategorized October 2023 Denver Market Overview | Not spooky, just more normal Although increased mortgage rates and elevated home prices continue to impact the Denver metro housing market, people are still selling and buying homes.  When looking at historical data, this year has performed similary to the pre-pandemic year of 2019 ~ sales volume over $24 million, median days in the MLS is 11 for 2023 and […]
Uncategorized August 2023 Denver Market Overview | School slump This time of year the housing market tends to see a drop in activity as people get their final summer vacations in and plan for the upcoming school year.   This year followed suit.  Both closed units and volume dropped by 2% in August as Summer came to an end and schools are back in session.  […]
Uncategorized July 2023 Denver Market Overview | Constrained Market Housing market activity in the Denver Metro area remained constrained in July. Closings of existing homes were down 14% compared to last year. Compared to June, there was a 12% decrease in closings.   The median price of a Denver Metro area home was $590,000 in July, which is less than 1% lower than last […]
Uncategorized May 2023 Denver Market Overview | Odd, Strange, Strained In her June Market Trends report, Nicole Rueth states: “Real estate is not dire, but it is strained.  Some sellers are crushing it with 40 plus showings, 11 plus offers, and well over asking.  Some buyers are finding the deal of the year in a slower neighborhood or unperfect home.”  Her words reflect what I […]
Uncategorized April 2023 Denver Market Overview | April Showers…not bringing inventory. April showers may have brought May flowers, but they did not bring more inventory to the Denver metro area.  Inventory remains incredibly low.  Year to date, the number of new Denver Metro listings is lower than we’ve seen in more than 12 years.   Historically, the market has a seasonal increase in closings from March […]
Uncategorized March 2023 Denver Market Overview | March Madness? March Madness basketball was, in fact complete madness this year.  On the real estate front?  Not nearly as crazy as basketball, but things have started to heat up.  We saw increases in both new listings of homes for sale and closings.  Average sold prices, while down from a year ago is on the rise month […]
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Uncategorized February 2023 Denver Market Overview | Slow thaw It is a little hard to tell how things are shaking out for the Denver real estate market, but it certainly feels like things are starting to heat up, at least a bit.  The number of new listings in the Denver metro and the number of closings increased from January to February.  Also, the median […]
Uncategorized January 2023 Denver Market Overview | New Year. New Market. 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 […]
Uncategorized December 2022 Denver Market Overview | 2022 Tale of Two Markets For this year end market overview, we will take a quick annual look and then dig into December monthly stats. First, Annual Update: 2022 was a tale of two markets.  2022 started with incredibly low inventory, incredibly low interest rates and intense buyer demand.  It was a frenzy.  Multiple offers, over list price, no inspection […]
Uncategorized 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 […]
Uncategorized October 2022 Denver Market Overview | Continued Cooling Continued cooling marked the October Denver Metro housing market as activity slowed for both buyers and sellers.  There were double-digit decreases in both closed and pending listings when compared to last year. Median sales price continues to see an increase year over year.   When looking at the more recent months in our current 2022 year, […]
Uncategorized August 2022 Denver Market Overview | Fall cool down Fall is in the air.  Cool weather mornings greet me as I walk the dog and realize I now need a sweatshirt.  The market has cooled as well.  Part of this is seasonality of the market, and part is the shift in the market.  I like how Andrew Abrams begins the DMAR Expert Opinion “As […]
Uncategorized July 2022 Denver Market Overview | Balanced July data is in and the data confirms that the Denver Metro area is no longer in a shifting market.  It has actually already shifted to a more balanced real estate market.  It is helpful to look at both month over month comparisons and year over year comparisons.  Month-over-month, the market is down 3.33 percent.  […]

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