Metro Denver Real Estate Market Report

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What will the Denver Real Estate market do in 2016? Every year about this time, I collect all the data I can, read every article I can find about the Denver market the year before and predictions for the following year, poll all the agents I know, and then try my very best to predict what will happen with the market that year. 

For 2016, I fully expect that the Denver Real Estate Market will be bullish once again. All the major Real Estate researcher companies with people much smarter than myself predict that Denver will be the top Real Estate market in the country in 2016. According to Clear Capital's Home Data Index, the Denver Metro area is expected to see 7.7% appreciation in 2016 which will be highest in the nation, just down from 11.7% we saw…
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 2015 was a record-smashing year for the Denver residential real estate market.

Total sales volume was $20.16 billion, up 14.5% from 2014. 

The year ended with only 5,501 active listings, and illustrates the story of the year’s market: low inventory. In addition, low interest rates, an improving local economy, and the continued influx of new residents drawn to the Mile High City, created high demand for Denver real estate.

Taking into the account the entire year, the average sales price for a detached single family home was $400,361. That represents an 11% annual increase in value, and firmly places Denver at the top of the nation’s real estate market. And a fast moving one too. The average time for a property to be on market was only 26 days. 

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December was an active month for the housing market in the Denver metro and surrounding area, with a strong month-over-month increase in sales.    

Home sales saw a jump in December, with 4,436 homes closing, a month over month increase of 31 percent and year over year increase of two percent.  During the month, 3,174 single family detached sales homes sold and 1,262 condos/townhomes sold. 

Download a copy of this report.

“December typically brings a month-over-month increase in residential real estate sales, but this December surprised us with a much higher increase than we’ve seen in previous years,” said Kirby Slunaker, president and CEO of REcolorado. “Home prices have moderated since the second quarter, allowing buyers to jump into a market

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Denver Area Housing Inventory Up Year Over Year

Prices Remain Strong

According to REcolorado, Colorado’s largest MLS and the provider of the re-designed REcolorado.com, the housing market in the Denver metro and surrounding area continued to experience typical fourth quarter softening. Inventory levels remained up as compared to last year, with average sales prices remaining steady.

November ended with 6,954 active listings on the market, a seasonal month-over-month decrease; however, a welcome six percent increase as compared to last year. As expected, sellers brought new listings to the market at a slower pace in November. During the month, 3,686 new listings came on the market, 15 percent higher than November 2014.

Months of Inventory

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Denver Area Housing Prices Rise in October

Inventory levels up compared to last year

The housing market in the Denver metro and surrounding area remained active despite seasonal softening. Inventory levels remain stable, thanks to a steady stream of new listings coming on the market. After several months of decreases, average sales price increased in October.

With 8,563 active listings on the market, October’s inventory of available homes for sale was down five percent month over month but, was seven percent higher than this time last year. Inventory levels held steady thanks to sellers bringing 5,830 new listings to the market, eight percent less than last month, but 18 percent more than October 2014.

Months of Inventory remained at two months

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September Ends a Strong 3rd Quarter

According to REcolorado, the housing market in the Denver metro and surrounding area continued its cooling trend in September. As inventory levels and prices remain steady, the market is seeing a slow shift to one that is more pleasing to the buyer.

With 9,051 active listings on the market, September’s inventory of available homes for sale was down one percent month over month but, was two percent higher than this time last year. Inventory levels held steady thanks to sellers bringing 6,314 new listings to the market, nine percent less than last month but 18 percent more than September 2014.

Inventory levels remained at 8 weeks in September, higher as compared to the summer months where we saw weeks of

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Colorado is officially in the fall season with leaves changing and colder nights so naturally the question of what is going to happen to the Denver Real Estate Market as we head into fall is starting to come up. Since the Denver Real Estate market is often seasonal, I try to do my best to predict what will happen to the market as we head into each season based on my experience, what I hear from other agents and future expert predictions.

The past few years, we have seen an insane spring selling season, a slower summer season in July and August, and another rush in home sales in September through November before winter sets in. That is what we expected this year and so far, we are still waiting for the fall rush to begin. For a number of reasons,

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As the kids head back to school, we tend to see a seasonal slowing of the housing market.

This August was no exception. According to REcolorado’s monthly report on the residential real estate market, signs of the traditional end-of-summer softening were seen in the Denver metro and surrounding area. Prices dipped a bit, the number of sold listings decreased, and homes stayed on the market longer.

August brought continued moderation in sales prices for single family homes. The average sold price for a single family home in August was $363,625, down one percent from last month, but up 11 percent year over year. The average price for a single family detached home was $405,863 in August, while a condo/townhome saw an average sale price of $257,048.

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The Denver-area Housing Market Shows Signs of Easing as July Brings More Homes.  

Real Estate Remains Sizzling Hot with Record-Smashing $11.45 Billion in Sales Volume Year-to-Date and Homes Selling Fast at an Average of 20 Days, but Market Conditions are Shifting.  

New residential home listings on the market in July increased 5 percent over the previous month and 13 percent year-over-year, which naturally helped ease the average and median sold prices of homes – $366,419 and $314,900 respectively. At July month’s end, there was a 20 percent rise in active listings compared to the previous month.

 

Denver REALTORS® have been begging for an increase in housing inventory for the past 12-months and July was just what the doctor ordered,” said

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As is typical in the active summer months, sellers continued to bring to the market new listings of homes for sale. In June, 7,644 new listings came on the market, a one percent increase as compared to last month and four percent higher than June 2014.

Thanks in part to the continued influx of new listings, inventory levels saw an uptick in June. The month ended with 7,531 active listings on the market, nine percent more than last month. Still, Denver area inventory levels remain tight, 17 percent lower than June 2014. There continues to be about six weeks of inventory in the Denver Metro Area.

Demand for homes in the Denver Metro and surrounding area showed no sign of cooling as June home sales increased for the fifth consecutive month. During the

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