November 2021 Market Update Denver Metro

November 2021 Market Update Denver Metro

Highlights

  • November saw another drop in inventory with the continued seasonal decline expected, setting up for a competitive 2022.
  • Despite low inventory, more homes have been purchased year-to-date than in any of the previous 5 years with a record-setting median sales price of $525,000.
  • With fewer buyers in the market and interest rates remaining low, buyers who keep looking through the holidays have a competitive advantage.

Key Stats

$629,479 Average Sales Price

  • ↑2.91% change since last month.
  • ↑15.49% change since last year.
With prices still consistent through the fall, the door remains open for buyers.
 

15 Average Days on Market

  • ↑7.14% change since last month.
  • 31.82% change since last year.
Have a plan in place to move on a home the first weekend it is active.
 

2,248 Active Listings (Inventory)

  • 33.41% change since last month.
     
  • 34.17% change since last year.
With some homes still being priced high, consider homes active for a while.
 

4,932 Closed Sales

  • 10.39% change since last month.
  • 8.73% change since last year.
Despite low inventory, people are finding and purchasing good homes.
 
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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