Free Home Value Report Search For Homes

Tuesday, December 22, 2015

What's Happening with Denver Real Estate?

Looking to buy in the Denver Metro Area? Get a full Home Search 
Looking to sell in the Denver Metro Area? Get a free Home Price Evaluation

Our housing inventory in Denver did see another seasonal decrease, and we remain in a very heavy seller's market. Home prices have risen 8.5% for detached single-family homes and attached single-family homes have seen a 17.2% increase in appreciation.

However, the average sale price saw a slight decline to $397,000 for single-family homes, but the average sale price for an attached single-family home is at a record high of $279,000. There were 4,000 homes under contract, but we would need almost 24,000 more units to find ourselves in a balanced market.

The average days on market are still at record lows. They're sitting at 28 days for detached homes and 21 days for attached homes. Nearly 44% of homes sell above their listed price, which is great news for sellers. On top of this, nearly 40% of November's listings went under contract in seven days or less. Sellers are getting 101% of list price in their first week on the market, and 98% in the second week.

This market is moving extremely quickly. For a home in $400K to $600K range, the average days on market is currently at 38 days. Between $200K and $400K you can expect to sell in 18 days, and in 17 days if your home is below those price brackets.

Home prices are up over 9% since last November. This is more great news for sellers, and we suggest pricing your home aggressively if you wish to maximize the sale price of your home.

We would also like to thank everyone for trusting us with your home sale. We managed to sell 165 homes this year, which is a record for us.

Thank you and have a safe and happy holiday season!