Highlights of the Denver metro real estate market update — January 2017
- Detached single family active units declined again to 2,738 available homes for sale which is a decrease of -8.5% over the previous month. Attached single family also reported a decrease of -10.0% in active units from December to January bringing the count to 931. Both markets together represent 3,699 units for sale.
- Average sold price jumped up in DSF $445,635, with a slight decline in ASF to $288,546.
- 3,747 homes were placed under contract. A balanced market with a 6 month supply of inventory would require 22,482 active units.
- Average days on market are higher at this point every year, 47 DOM for DSF and 36 for ASF. This increase is a welcome change for Buyers.
- 34.0% of DSF and 45.9% of ASF homes were under contract in 7 days or less, which caused 40% of homes to sell for at or over their asking price.
Source: Megan Aller, Land Title Guarantee Company
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GreaterMetroDenverUpdate2017.01_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 give me a call.
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