The Denver real estate market is seeing a seasonality slow but is still fast paced for this time of year compared to previous years. Notably, the price of homes is still climbing and is 15% higher than at this time in 2020. Check out below to see how the Denver area housing market performed in November:
Data from ReColorado from November 1, 2021 to November 30, 2021.
The monthly sales numbers in the Denver area decreased, landing at 5,169. This was a slight decline from last year, landing at a drop of 4%.
Surprisingly, new listings were up from last year – but only slightly. Listings were up at 3,751 which is a 2% increase from 2020. Pending listings were up the exact same – up 2% at 4,622 compared to 4,532 in November of 2020.
Even with the holidays fast approaching, sale prices continue to climb in Denver, up 15% from 2020 at $627,945.
Days on Market (DOM)
The average days on market continue to slow as the season changes. Denver homes spent an average of 16 days on the market in November. This is still a 6 day decrease from November of 2020.
A Word From a Homie Expert
Phillip Kranefuss, our Head of Real Estate in Colorado had this to say about the market:
“December is typically known for slowing market activity heading into the holidays, but current market conditions on the buy-side are surprisingly aggressive with multiple offer scenarios and heavy showing activity. While we don’t have a crystal ball to see into the new year, this type of activity is likely a portent of what’s to come, and we anticipate January and Q1 will likely continue to be a heavily “out of balance” market with aggressive buy-side activity and ultra low listings inventory.”
Turn to a Homie
Are you ready to buy or sell your home? Homie has dedicated, local agents that are highly experienced and can help you navigate the tricky Denver market. Our agents can help you search for your dream home and put in an offer, or if you are selling, help you get your dream offer. Click to start selling or buying and get in touch with your dedicated agent.
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