December 2019 Metro Denver Market Update
New Listings Drop Heading into the Holidays
Both active listings and closed sales were down significantly from the previous month, indicating that potential home buyers and sellers appear to be waiting until after the holidays to jump into the market.
November’s vital statistics for all homes – detached single family (DSF) and attached single family (ASF) combined – include:
- The average price increased 1.4 percent from the previous month and 6.8 percent from a year ago;
- Active listings dropped more than 18 percent compared to the previous month and were down more 7 percent from this time last year; and
- The average days on market was up 3 percent from the prior month and 9 percent from a year ago.
On average, homes are on the market a bit longer and the close-to-list-price ratio is down month over month and from a year ago. However, the drop in inventory has bumped up average home prices, demonstrating that this still isn’t a market for low-ball offers. In addition, the metro area continues to attract newcomers with SmartAsset recently ranking Denver No. 7 on its list of top 50 boomtowns – based on factors including prosperity and desire buy a home.
In this month's video, I discuss two new programs that I offer through Coldwell Banker - Real Vitalize, which helps you get your home ready for market and Real Sure, which provides you with an instant cash offer. I'm happy to discuss these programs in more detail if you have questions.
If you need any advice or assistance navigating our real estate market, contact me today at 303.710.5817 or firstname.lastname@example.org. I am never too busy for your referrals.
This update is based on information provided by the Denver Metro Association of Realtors® for the period of November 1, 2019, through November 30, 2019, for the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.