Denver’s record-low housing inventory continues to ease, helping to normalize the market a bit. Let’s take a look at the Denver housing market reports with data from last month…
Denver Real Estate Market Updates with Scott Rodgers
Denver Housing Market Updates
Real Estate Market Watch by the Denver Metro Association of RealtorsREcolorado-Market-Watch-2021-09
Metro Denver Housing Market ReviewGMDR_DSF_September_2021
Metro Denver Market Appreciation by Zip Code, 2009-September 2021Zip_Code_Appreciation_2009_Sept2021
Source: Megan Aller at First American Title.
Greater Denver Housing Market UpdateGreaterMetroDenverUpdate2021.09
Highlights From Last Month’s Activity
- We’ve started to see sold, pending, and active listings come closer to equilibrium. This might indicate a move toward market normalization, aided by seasonal factors.
- Arapahoe County fell to the bottom of the pack in inventory supply with only 0.6 months.
- Despite the continued shortage of inventory, the market demand is cooling slightly. Days in MLS is up 17% month-over-month to 14 days.
- Though we appear to have peaked in June this year in terms of sold units, we are still seeing high sales volume when looking at 2019 (as a reference for our last “normal” season)
- Continued gravitation towards urban living? Denver County is up 15.9% year-to-date in sold units.
- So, how is the market compared to 2020? Year-to-date sold units are up 7.2% year-over-year.
- Average Sales Price:The average sales price in September for detached single family (DSF) homes was up 16.4% YoY to $686,881 and attached single family (ASF) homes was up 15.6% YoY to $439,276.
- DOM, Average Days in MLS: The average days in MLS in September in the Metro area was down 39.1% YoY to 14 days.
- Active Listings: Active DSF listings in September in the Metro area were down 27.5% YoY to 2,665 homes, and active ASF listings were down 56.4% YoY to 1,163 units.
- Under Contract: Pending listings in September in the Metro area were down 27.7% MoM and down 2.7% YoY.
- Closed Listings: Sold listings in September in the Metro area were down 11.1% YoY to 5,317