With the start of a new year, we can’t help but look forward to watching how the market changes throughout 2021. So how did the Denver market start out the new year? We’ve got your update!
Data from ReColorado from January 1, 2021 to January 31, 2021.
It’s common for the volume of sales to shrink during the month of January, and this year has been no different. With a 38% decrease from December, January monthly sales landed at 3,164. This is a 6% decrease from January of the previous year.
New listings also experienced a year-over-year decrease, landing at 4,285. While this is a 12% decrease from the previous year, it’s a 29.6% increase from the previous month.
In contrast to new listings and monthly sales, sale prices saw a significant year-over-year increase. The average sale price for a Denver home in January was $550,165, a 16% increase from this time last year.
Days on Market (DOM)
Even though there were fewer sales in January than there were last January, those sales are happening at much faster speeds. The average number of days spent on the market for a Denver area home in January was 26, which is a 19-day decrease from last January.
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