Denver Real Estate Market Update February 2021
Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado!
The words of the new year continue to be Wow and Unbelievable!
A year ago could you have imagined that the price of a Single Family Home in the Metro Denver Area would be up 18.69% from January 2020 to an Average Price of $629,159?
Here is the latest:
- Extremely Low Inventory at 2,316 Active Listings for Homes, Townhomes & Condos in all of the Metro Denver Area, which is down 53.13% from a year ago!
- The Average Price of a Single Family Home at $629,159 which is up 18.69% from a year ago!
- The Average Price of Townhomes & Condos at $397,792 is up 11.70% from a year ago.
- Almost $336,000,000 of Luxury Homes sold in January which is up 85% from 2020!
Our Inventory has shrunk to ONLY 1,263 Single Family Homes!
- This is a 61.69% decrease from this time in 2020! The average price increase of all Residential homes detached and attached is up 15.71% year of year.
There is no better time to list your home and take advantage of an unprecedented Seller’s Market! With interest rates near all time lows there are opportunities for Buyers as well!
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!