Latest News: Market Conditions
April 2022 Market Update
Spring is in full swing in Denver and while April saw a 44.26% uptick in inventory, it was quickly snapped up by eager Denver buyers. The average property was on the market for just 8 days in April. 6,881 new
March 2022 Market Update
While March finally saw an uptick in inventory, continued demand has finally pushed average home prices over $700,000 to $705,812 in the Denver Metro area. Month-end inventory was up 81%. This number sounds impressive, but resulted in only 995 more
February 2022 Market Update
As we look back at the statistics for February, inventory and demand continue to plague buyers in the Denver market. To give a better picture of the inventory situation, consider that the record-high for February was in 2006 with 25,484,
January 2022 Market Update
After a lull over the holiday season, the Denver housing market generally sees about a 70 percent increase in new inventory in January. This January the Denver market only saw a 31 percent increase. While these numbers can be attributed
Where are 2022 Interest Rates Headed?
As 2022 kicks off with record-low inventory and increasing interest rates, we reached out to Erik Henderson, a Branch Manager and Loan Officer at Northpoint Bank, to get some insight on where he sees rates headed this year and what
December 2021 Market Update
As we look back on the final numbers for December and reflect on 2021 as a whole, a few trends stick out. 2021 was a strong seller’s market. This was due in part to record-low inventory levels combined with a
November 2021 Market Update
The snow is finally falling, but the real estate market in Denver hasn’t quite cooled down yet. Buyers are looking to find homes while interest rates are still low, so sellers are still seeing multiple offer situations and record-high sales
October Market Update
While no all-time records were broken this October, just about every October record was broken. This October featured the least amount of listings, the highest average close price, and the lowest days on the market of any October on record.
What Happened with Zillow? A Realtor’s Perspective
It all started with the Zestimate. Launched in 2006, Zillow created an algorithm that they believed accurately predicted a home’s value based on comparable neighborhood sales. In the next few years, millions of people used Zillow as a resource for
September 2021 Market Update
As the fall chill blew through Denver this September, it did nothing to cool down the market. After the inventory lull in August, the moderate increase in September inventory felt significant and gave buyers more options. The number of closed
August 2021 Market Update
Seasonality is always a factor in the real estate market. This transition season between summer and fall, had a lot of buyers sitting August out. Many Denverites took advantage of a final summer vacation and almost all school-aged kids prepared
July Market Update
At first glance, the July numbers suggest a cooling market, but in a broader context, buyer competition doesn’t look to be letting up quite yet. Inventory ticked up this month, but it was still the lowest inventory for July on
June Market Update
We generally see the peak of the busy season in June. 2021 was no different. Denver saw record-breaking stats for the number of closings, average close price, and new listings. The June inventory increased 50.46% over last month. For reference,
May Market Update
As spring turns to summer, the real estate market in Denver continues to be competitive for buyers. This year, for the first time in 13 years, the inventory at the end of May was actually less than the beginning of
April Market Update
The Denver market continues to race forward into spring. Inventory in April was up 35.03% over March, but that still made for the lowest April inventory on record. 6,699 listings hit the market in April, but by the month’s end,
March Market Update
As spring arrives, the market in Denver usually picks up. What does this mean for a year that never slowed down? Even more competition and not nearly enough inventory to keep up. The average days in the MLS for homes
February Market Update
February 2021 saw many of this winter’s trends continue. Low average days on market, limited inventory, and creative offers characterize the market. It is hard to overstate the speed at which homes are being listed and going under contract. The
January Market Update
The Denver market continues to see high demand and increased appreciation even in January. While we often see reduced available inventory in the winter months, this January was a new record low with just 2,316 active listings at month-end. New
December Market Update and Year End Review
The close of December brought the end to a year that no one could have expected. The month ended similar to the whole of 2020, with record-low inventory and record-high sales volume. December ended with 2,541 active listings on the
November Market Update
November 2020 in Denver saw record highs and lows in the Denver market. It is important to remember that the residential market generally follows a seasonal pattern and it is normal to see lower inventory in the winter months. Even
October Market Update
In October in Denver, the market tends to slow down as the weather cools off, but not surprisingly, 2020 was a little different. The record-low inventory continues with only 4,821 active listings. This spring’s pent-up demand continues to have a
September Market Update
September is historically a month that we see a natural calming of the market as buyers and sellers often decide to stay put in the Fall and Winter months. September 2020 was a different story. Once again, the Denver market
August Market Update
August broke most of the records set in July and then some. The strong buyer pool pushed average home sale prices to over $604,000 and kept inventory at a record low. At the end of August, there were 5,496 active
July Market Update
As we approach the peak of summer heat the Denver market has also continued to heat up. July saw record-breaking demand, limited inventory, and prices. More homes closed in July 2020 than any month ever in the Denver Metro area.
June Market Update
With June data in, we can confirm that prices are still increasing and demand is still high in the Denver real estate market. Under contract numbers in May were at record numbers and June has beat those records. The number