New inventory is the topic of discussion for May, where we saw the fifth consecutive month of increases in new listings of homes for sale. Sellers brought new inventory to the market to take advantage of high home prices.
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April brought another seasonal increase in new listings, pending listings, and sales compared to last month. The count of listings that were actively available for sale at the end of April reached 2,904. It’s the first time we’ve seen active listings above the 2,000 mark since November 2021.
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Spring is in the air! As clocks go forward and temperatures steadily rise, so did the demand for homes in the Denver Metro Area during March. We saw a continued increase of new, pending, and closed listings like months prior.
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Just as we saw in 2021, homes are spending very little time available for sale. As a result, the standing inventory of homes on the market remains below 2,000 listings. This inventory shortage is expected to result in ongoing price increases.
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Demand for homes remained strong in the Denver Metro Area in January. Although the number of New Listings saw a seasonal increase of 38% from December, there is still not enough inventory to meet buyer demand.
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2021 was a record-setting year for real estate in the Denver Metro area. The Average Closed Price for a home surpassed the $610,000 mark, the average price of a single-family residence was 18% higher than we saw last year, and the average price of a multi-family/townhome/condo was 14% higher. Read on for a look back at more jaw-dropping market statistics from last year.
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In December, demand for homes was still strong in the Denver Metro Area as mortgage rates remained low and buyers quickly scooped up available inventory. Throughout the month, 4,616 homes were sold, a 12% decrease compared to last December and down 12% from last month. Homes spent an average of 18 days actively for sale in the MLS, six days fewer than last December and two days more than last month.
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With only one month remaining in 2021, the housing market in the Denver Metro area is on pace to break records in terms of both closings and prices. The Average Closed Price for a home is now $627,945 and the number of homes that were purchased in November is 5,169.
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Denver Metro home closings in October continued to cool down with closings down 18% compared to last year and down 4% compared to September. However, October also saw a record-high number of listings in Pending status, up 9% from last month and 1% higher than last year, which signals that we’ll likely see a strong number of home sales as we close out the year.
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Last month, home shoppers searched for their Colorado dream homes and marked their favorites along the way! Take a look at five of the most favorited listings from September 2021.
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