Wednesday, December 16, 2020

Denver Real Estate Market Update December 2020

Denver Real Estate Market Update December 2020

Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado!

Merry Christmas, Happy Hanukkah and Happy Holiday Season!

I thought you might like the latest market update to review, see attached Denver Real Estate Market Stats and update below.

This is a December to put in our history books, as the normal Hustle and Bustle of the Holiday Season has been tempered by the Pandemic and decreased our Holiday activities.  The Real Estate Market has picked up the slack of activity as Buyers are still very interested in buying as soon as possible with these low interest rates. 

Every Christmas has a Naughty List, and this year it is our Inventory of Active Listings!  We can’t remember a more difficult time for buyers to find the right home, as our Inventory has shrunk to ONLY 1,755 Single Family Homes, 1660 Townhomes and Condos for a total Inventory of 3,415

  • This is a 51% decrease from this time in 2019!  The average price increase of all Residential homes detached and attached is hovering in the 8+% range YTD.

There is no better time to list your home and take advantage of an unprecedented Seller’s Market!

  • Active Listings at month end were 3,415 which is 51% less than November 2019
  • New Listings were 3,689 up slightly from November 2019
  • Pending homes were at 4,796 which is ahead of November 2019!
  • Sold Homes were 4,820 and which is significantly more than November 2019

The biggest story is the Average Price that Closed on a Single Family Home in November was $615,766 significantly higher than November 2019! 

Year to Date our Single Family Average price stands at $549,756 which is an almost 8% increase for the year!  Wow!

The Market is moving differently in certain parts of town, but much of the Buyer demand has been moving in the suburbs, Douglas County, the Foothills and the Luxury Market!  Low Interest rates continue to help drive the demand! 

Please let me know if you have any questions or would like any more specific information, feel free to forward our market update to everyone you know and spread the word that real estate is open for business!

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