The Denver market felt the December slow this year with homes closed, new listings and inventory all down. Check out below to see how the Denver area housing market performed in December:
Data from ReColorado from December 1, 2021 to December 31, 2021.
The monthly sales numbers in the Denver area decreased, landing at 4,616. This was a significant decline from last year, landing at a drop of 12%.
New listings were also down from last year landing at 2,604 – a drop of 14%. Pending listings were down as well but only slightly at 3,312 – a drop of 4%.
With low inventory, prices continued to climb and increased by 15% from 2020 landing at $622,740.
Days on Market (DOM)
The average days on market continued to slow during the holidays. Denver homes spent an average of 18 days on the market in November. This is still a 6 day decrease from December of 2020.
A Look at 2022 from a Homie Expert
Phillip Kranefuss, our Head of Real Estate in Colorado had this to say about the future of the market in 2022:
“The Denver market is slowly awakening from its December slumber as we head into the new year. Buyer demand has come out strong, even in the face of rising interest rates However, listings are ebbing at historical lows and lagging behind where we would expect them to be halfway through January. At this point, it looks like a continuation of the ultra-low listings inventory coupled with strong buyer demand status quo, resulting in a very competitive local market.”
Turn to a Homie
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