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My market recaps from previous months
Denver Metro Market Recap May 2022
In a sign that the market may be moving toward some normalization, both average & median sales price were down slightly over last month. Available inventory continued its steady & slow climb, with 10% more homes available to buyers over April. All segments remain competitive with a 105% close-to-list-price ratio; the luxury segment was most competitive at 107% (closing $101k over list).
Denver Metro Market Recap April 2022
Inventory continues to climb with the warmer weather as April ended with 44% more available listings than we saw at the end of March. Whilst most homes went under contract after 4 days, the overall average is 8 days, 3 days less than the March average & a full week less than February. The average sales price was up another $25k to $727k for all homes sold, yet the condo/MF segment remained flat at $495k (worth watching!).
Denver Metro Market Recap March 2022
With Spring comes an influx of homes on the market – new listings were up 44% in March, month-end available inventory was up 81%. Still a strong seller’s market, most homes went under contract after the first weekend and closed on average $43k over list price. Average sales price in Denver Metro surged above $700k for the month, driven in part by a 69% increase in homes sold over $750k.
Denver Metro Market Recap February 2022
New listings and closings were both up slightly from last month, but down for the year overall when compared to this time last year. The 104.75% close-to-list price ratio was an all time high, and correlates to homes closing in February nearly $30k over list price. While interest rates have increased more rapidly than projected this year, the conflict in Ukraine is expected to lower them, at least in the short term.
Denver Metro Market Recap January 2022
New listings were up 31% over the previous month, but still much lower than the 70% increase we normally see from Dec to Jan. While sale prices were seasonally lower, buyer competition remained high, with homes closing on average $12.5k over list price (up $3k from Dec). Increased interest rates are lowering buying power, but with expected appreciation, that $500k home now may cost you north of $550k if you wait a year.
December 2021 Market Update Denver Metro
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...
November 2021 Market Update Denver Metro
November saw another drop in inventory with continued seasonal decline expected, setting up for a competitive 2022
October 2021 Market Update Denver Metro
October represented a cooling of the market across the board consistent with Denver’s normal year-end seasonality. While homes are still closing above asking (101.82%), the extreme bidding wars are less common, giving buyers without 20% down a fairer shot at landing a home. With prices and interest rates consistent month-over-month, the door is open for buyers who burned out over the summer
September 2021 Market Update Denver Metro
September 2021 Summary: After a relative slow down in July & August, September returned to the normal red-hot speed of today's housing market. There remains heavy competition amongst buyers, while a slight uptick in inventory meant buyers had a few more options....
August 2021 Market Update for Denver Metro
August 2021 Summary: August 2021 showed a slowdown in inventory and activity from July which is consistent with traditional seasonality as people come back from vacations and prepare for the school year and the fall. Buyers continue to benefit from low interest rates...
July 2021 Market Update for Denver Metro
While still a strong sellers market, buyers have more options, more time to review homes, and less competition
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