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You are here: Home / Buying a Home / Greater Denver Real Estate Update – December 2017

Greater Denver Real Estate Update – December 2017

January 17, 2018

Highlights of the Denver metro real estate market update — December 2017 data

The Denver metro real estate market shows no signs of changing course from recent years where the spring market is quite competitive.

Market characteristics:

  • Low inventory.
  • Prices set to rise with increasing demand if supply does not keep pace.
  • Buyer bidding wars more likely as market heats up.
  • Buyers with a contingency to sell are likely to struggle in what will likely be a fast moving market.

Here are some of the highlights from December’s data:

  • Detached single family (DSF) active units decreased -18.6% over the previous month and attached units (ASF) decreased by -13.1%. Both markets together represent 3,691 units for sale.
  • Average sold price held flat for DSF to $477,523 but with a very large bump reported for ASF to a new record high of $340,523.
  • 2,949 homes were placed under contract. A balanced market with a 6 month supply of inventory would require 17,694 active units.
  • Average days on market remained low heading into December with DSF at 35 days to contract and ASF 31.
  • 35.3% of DSF and 40.6% of ASF homes were under contract in 7 days or less.
  • 41.3% of closed homes in December sold for at or over their asking price.
  • Source: Megan Aller, Land Title Guarantee Company

(Scroll the PDF or click the arrow buttons for page-to-page navigation)
GreaterMetroDenverUpdate2017.12_MA

There are a lot of details here.  I would be happy to help you understand how they relate to your situation and your real estate goals.  Just shoot me an email or text, or give me a call.


See my prior post if you are interested in one of these topics:

  • Is Denver real estate in a bubble?
  • Renting vs buying

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Topic: Buying a Home, National and Local Real Estate Housing Market, Selling a Home

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DENVER REAL ESTATE & HOUSING BLOG

scott rodgers realtor blogHi, I'm Scott Rodgers, a native of Denver and a professional Realtor serving the metro Denver metro area. In short, I help people buy and sell homes, and have built a bit of a reputation wearing a kilt to my clients' closings.

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