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 to April as Spring hits and many buyers desire to move during the summer months. That was not the case this April as the number of closings decreased likely due to a lack of inventory, along with higher interest rates.  Positively, there was an uptick in buyer activity month-over-month with 12% more contracts written on homes in April than in March.

Bullet points with March stats:

~ The median sold price for single family homes (including attached and detached) in April is $580,000 which shows a 2.47% increase from last month (March) and a 6% decrease from April 2022.

~ The average number of days on MLS in April 2023 was 29 days, which shows a 21.62% decrease from last month (March) and a 262.5%  increase from last year in April.

~ Active listings at month end are 4620.  This shows a 2.3% increase from last month (March) and a 44.19% increase from last year in April.

~ Average active listings in April are 14,296 (from 1985-2022).  The record high April was in 2006 with 29,045 and the record low was in 2021 with 2594.  April 2023 shows active listings at month end of 4620.

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 .

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 .

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 over month.  The number of homes pending sale increased for the third consecutive month with buyers signing 22% more contracts in March than February.

Bullet points with March stats:

~ The median sold price for single family homes (including attached and detached) in March is $565,000 which shows a slight .44% increase from last month (Feb) and a 6% decrease from March 2022.

~ The average number of days on MLS in March 2023 was 37 days, which shows a 22.92% decrease from last month (Feb) and a 208%  increase from last year in March.

~ Active listings at month end are 4516.  This shows a 19.53% increase from last month (Feb) and a 103% increase from last year in March.

~ Average active listings in March are 13,609 (from 1985-2022).  The record high March was in 2006 with 27,309 and the record low was in 2021 with 1921.  March 2023 shows active listings at month end of 4516.

Hoping to see the historical increase in inventory as we head into late Spring and Summer.

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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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 closed price increased 4% from January to February (and that coming after four months of decreases). Median prices are down 3% from last year at this time.

Inventory remains extremely low and inventory challenges will likely continue in 2023.  The recent bank news potentially creates uncertainty, but interest rates also fell.

I think “slow thaw” is a decently monthly caption given our very wintery temperatures this winter and also coming off the slow fall/early winter which we have seen this year (also historically, but even more so).

Bullet points with February stats:

~ The median sold price for single family homes (including attached and detached) in February is $562,500 which shows a 4.39% increase from last month (Jan) and a 2.17% decrease from February 2022.

~ The average number of days on MLS in February 2023 was 48 days, which shows a 4.35% increase from last month (Jan) and a 243%  increase from last year in February.

~ Active listings at month end are 3778.  This shows a 8.3% decrease from last month (Jan) and a 208% increase from last year in February.

~ Average active listings in February are 12,905 (from 1985-2022).  The record high February was in 2006 with 25,484 and the record low was last year at 1226.  February 2023 shows active listings at month end of 3778.

It will be interesting to see how the Spring and remainder of the year play out.  So many different variables at play.  I honestly feel this market presents great opportunity for both Buyers and Sellers.  Buyers may find a deal that has been sitting a while (listed during that very slow time and now has days on market) and Sellers who are willing to put the home in show-worthy shape, may reap reward in this very low inventory market.

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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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 .

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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 items and appraisal gaps were the norm.  Homeowners realized 19.19% appreciation from January to April.  Come mid-summer affordability and market uncertainty fuel an abrupt market change.  Interest rates increased and buyer demand decreased.  Median days on market increases and price reductions become a common theme.  For 2022, Denver Metro peaked in April 2022 with an average single family detached home sales price of $819,090.  Denver Metro ended the year with an average single family detached home sales price of $701,949.

The pandemic-driven frenzied market with historically low interest rates fueling record breaking years was not sustainable.  The market as we head into 2023 is a more balanced market.

Next, a look at December.  December historically is a cooler market and this year is no exception; even a little cooler.  Closed home sales are down from both last month (November) and last year in December.  December saw 59.4% of detached single family homes closing with price reductions averaging -7.8% from their original list price.

Bullet points with December stats:

~ The median sold price for single family homes (including attached and detached) in December is $554,990 which shows a  1.42% decrease from last month (Nov) and a 1.83% increase from December 2021.

~ The average number of days on MLS in December 2022 was 43 days, which shows a 26.47% increase from last month (Nov) and a 138.89%  increase from last year in December.

~ Active listings at month end are 4757.  This shows a 23.92% decrease from last month (Nov) and a 222.07% increase from last year in December.

~ Average active listings in December are 12,350 (from 1985-2021).  The record high was in 2007 with 24,603 and the record low was last year at 1477.  December 2022 shows active listings at month end of 4757.

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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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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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, median sales prices have decreased 8.5% since their peak in April when homes were closing a median of 6% above original list price. In a mere six months, October homes closed at a median of 2.9% below the original list price.

Quick bullet points on the Denver Metro:

•  The median sold price for single family homes (including attached and detached) in October is $567,000 which shows an 6% increase over October 2021.
• The median number of days on MLS in October 2022 was 18 days, which shows a 13 day increase from last year in October.
• New listings decreased by 28% in October 2022 from this time last year.

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 .

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 a new school year begins, it brings change and transition.  Traffic flows differently, restaurant reservations vary and weekend activities intensify.  The transformation from summer to fall also holds true in Denver Metro’s housing market.” It is helpful to look at both month over month comparisons and year over year comparisons.  The median sales price decreased 2.54 percent from the previous month while year-to-date, the Denver Metro is up 8.49 percent in median sales price.

More quick bullet points on the Denver Metro:

~ The median sold price for single family homes (including attached and detached) in August is $575,000 which shows an 8% increase over August 2021.

~ The median number of days on MLS in August 2022 was 11 days, which shows a six day increase from last year in August.

~ New listings decreased by 15% in August 2022 from this time last year.

~ August 2022 had 6939 active listings month end.  Average active listings in August are 15,900 (from 1985-2021).  Record high August was in 2006 with 31,664 listings and the record low was set last year with 3582 listings.

~ The historical average decrease in active listings from July to August is 1.32%.  This year we saw an decrease of 5.73% which is a healthy decrease in housing inventory.

~ Seller concessions are on the rise.  In July 2022, 29.2% of the properties that closed paid a seller concession.  This shows a 6.3% increase from the 22.9% in July 2021.

The frenetic nature of the market the last year or so was not sustainable.  A more balanced market is more healthy.  The current market presents opportunity for both Buyers and Sellers.  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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