Denver Real Estate Market Update December 2021!
Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado!
Selling homes from $30,000-$105,000 Over Asking Price in 2021!
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The prediction by our own Chief Economist at NAR, Lawrence Yun is that this Winter Market is expected to be unseasonably hot! If the warm Fall Weather is any sign, and compared to other past Winter Markets, we do predict that this normally slower Season will experience stronger sales activity.
Buyer demand continues to be the strongest indicator of this current market, and confidence in another strong market in 2022.
We have a couple of interesting trend lines happening:
- From October to November, we saw a 33.41% decrease in month-end Active Inventory dropping to 2,248 Residential properties.
- Throughout the entire Denver Metro area, there are only 1,444 Single Family detached properties, and only 804 attached properties to buy!
- The Average Active Listings in November is 14,180 from 1985-2020.
- The Record-high November was in 2006 at 27,530
- The record-low was set this year at our current 2,248
We have been setting a few records in 2021 as Year-to-date, there have been more houses purchased than in any other previous five years, and the Median sales prices for Single-Family and Attached Properties set records this year!
We absolutely encourage Buyers to enjoy all of the festivities of this Holiday Season, but it may also be the time to stay focused on finding the right home as the market takes a Seasonal breath, and interest rates remain low. Sellers, if you need to sell your home soon, you can absolutely go active on the market and you will get showings throughout the Holiday Season.
We do predict that the New Year Homebuying activity will start early, so be prepared to bring in the New Year with a strong Resolution.