Highlights

December saw another month of inventory declines as more homes went under contract (3,321) than there were new listings (2,652)

Demand is at an all-time high with 63,684 homes sold in 2021, the highest number ever, while new listings for the year were down 5.26%

Buyers continued to enjoy lower interest rates in December, while the increase to conforming loan limits for 2022 means even greater buying power

Key Stats

sales price 

$627k

average sale price for a home purchased during the month

$545k

half of the homes sold were purchased for this amount or less

Home prices are mostly holding steady into the winter when we normally have a slight seasonal reduction in close price

days on market

18

average number of days for a home to go under contract during the month

5

half of the homes listed were under contract in this number of days or less

While most homes are under contract after the first weekend, homes on the market longer offer opportunity to buyers

inventory movement

Click chart to enlarge; scroll down to see how to read the chart

With limited new listings in the market through the holidays, active buyers found good options in older inventory

⇑ how to read the “inventory movement” chart

The chart above is called a “walk”:

    • The first box on the left is the inventory we had at the end of the previous month (and thus start of this month)
    • The second box adds the new listings which became active during the month.
    • These first two boxes give us our total home inventory for the month
    • The third box is the number of properties that went under contract, which reduces from our available
    • The fourth box shows homes that were removed from the market without going under contract, which reduces the number
    • Finally we are left with the total inventory at the end of the month

homes sold

Click chart to enlarge; scroll down to see how to read the chart

More inventory is available for those looking in the $300-$750k range as it made up 72% of closings last month

⇑ how to read the “homes sold” chart

The chart above is a bar chart showing the number of homes sold in the month by price bucket. Blue is the number of detached, single family homes; while pink is the number of attached, multi-family homes. Charts like this are helpful as they easily show where we see the most activity.

Data source: DMAR Real Estate Market Trends Report

The Denver Metro Area encompasses 11 counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park.

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