DMAR Market Highlights:
- The government shutdown and stock market dip may have affected our early January activity due to consumer fear. Now, with employees back to work, confidence appears to be up with an increase in real estate activity in the Denver market.
- Even though inventory today is higher than a year ago, key drivers of insufficient housing supply continue to be: expensive land/lack of land, rising material/labor costs, few incentives for innovation, state and local regulations and community opposition.
- Buyers are sighing with relief. With the market adjustments, it’s easier for move-up buyers to place contingent offers on their next home.
- The best time to sell is before June.
- Forbes ranked Denver the number one most competitive housing market.
- 87% of millennial renters in Denver say they plan to purchase a home at some point in the future.
- Active residential inventory increased 52% year-over-year.
- Sold residential homes decreased by more than 14% year-over-year.
- Average sold price increased 2.89% year-over-year.
- Days on market increased 20% year-over-year.
Source: Denver Metro Real Estate Market Trends Report, February 2019, by the Denver Metro Association of REALTORS®.dmar_markettrendsreport_feb2019
Metro Denver Market Review by Megan AllerDetached_Metro_Denver_Market_Review_January_2019
Related Denver real estate news headlines:
- Denver home sellers’ “magic window” for listing properties is early May [read my rebuttle]
- Denver-area residents house hop faster than most of the U.S.
- Where is Denver residential development happening?
- “We suck in Denver, huh?” Here’s how development is shaping the mayor’s race in 2019
- The number of “rich” renters in metro Denver is surging
- Denver’s high housing costs have married couples saying “I do” to roommates
- Home prices fall in Boulder, Denver and Douglas counties. Is it a blip, or a trend?
- These Denver skyscraper projects stand to leave their mark on the Mile High City
- Housing is already in a slump. So it (probably) can’t cause a recession.
- The Housing Market Looks Like It’s Cracking. That Hasn’t Stopped Housing Stocks. (Favorable comment about Denver)
National Real Estate Market – updated February 2019
And that concludes this month’s Denver Real estate market update