Market Watch: November 2018

Sales and new listings typically decline in November as the weather cools and focus turns toward the holiday season. This year was no exception. The Denver Metro Area housing market saw a decline in home sales during November, while average sold prices have leveled off month over month.

REcolorado Market Watch Infographic November 2018

Download and share the REcolorado Denver Metro Market Watch for November 2018.

Housing Market Slows for Holidays

This time of year, we often see a slowdown in the housing market as potential buyers shift their focus towards the holidays. Despite the expected seasonal slowing, the housing market is still showing positive signs for buyers and sellers alike. 

For example, home buyers see more available homes for sale on the market than last year at 8 weeks of inventory. Homes are also spending longer on the market than last year, an average of 44 days (two days more than last year) and a median of 20 days (six days more than last year). 

Market Conditions More Favorable for Buyers

Although it’s not a buyers’ market, we’re seeing conditions more favorable for buyers, including: 

  • More homes for sale
  • Cooling price increases
  • Homes spending more time on the market

In addition, fewer home shoppers during the holidays means less competition — especially if you’re looking in the $500,000+ price ranges.  

Home Prices Leveling Off

Prices have leveled off month over month. The average price of a single-family home was $504,699 in November, down 2% from last month and down 6% from the June peak.

We’re also seeing lower differences year over year. The average price of all homes was $461,521, an increase of 6% compared to last year. 

For more information, view the Detailed Market Statistics Report or ask your REALTOR® to provide more information about the housing market in your area.  

Find the Newest Homes for Sale

Home buyers can search thousands of active listings straight from REcolorado.com. And, with nearly 4,000 new homes for sale added last month, you can find the most up-to-date and accurate information about new listings as they hit the market. 

Ask your REALTOR® to set you up in the REcolorado Client Portal. With saved searches, email notifications, and a simple interface to connect directly with your agent, the client portal is the easiest way to keep up with the Colorado housing market. 

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