Denver’s record-low housing inventory eased up the second half of the year, helping to normalize the market a bit from an intense first half. Now is the best time for buyers to be looking for homes if they want to avoid an intense market that is likely to start in January. Let’s take a look at the most recent Denver housing market reports using data compiled from last month’s activity…
Denver Real Estate Market Updates with Scott Rodgers
Denver Housing Market Update
by the Denver Metro Association of RealtorsDMAR_MarketTrendsReport_December2021
Metro Denver Housing Market ReviewGMDR_DSF_December_2021
Source: Megan Aller at First American Title.
“Detached single-family active homes for sale declined by 23.8% month-over-month putting us 11.1% less than the same level of inventory one year ago. The rate of multiple offers reached their lowest levels in 2021 in November with only 25.3% of homes closing for over their asking price. This is a sharp departure from what we saw back in June 2021 with 78.1% of homes selling for over their asking price.
“I can not stress how important it is to have buyers who are challenged with multiple offer situations out now and to be taking advantage of holiday distractions. Showings per property dropped over 50% over Thanksgiving weekend when compared to the first weekend in December. The next opportunity for less competition in the market will be the week between Christmas and New Year’s Day. If mild weather patterns persist, we are shaping up to have a rapid-fire start to the year directly following New Year’s Day. Take advantage of low rates and less competition before the market starts full force in 2022.