December Market Trends Denverarea Homes For Sale Down 21 From October

Dated: 12/07/2015

Views: 1083

Denver Housing Inventory Nears Record Low, but Still Higher than Previous Months in 2015; Indicators Suggest 2016 will Continue to be a Healthy Real Estate Market

Inventory of available homes for sale was 5,683 at November month's end – a 21 percent decrease in inventory overthe previous month, but five percent more than November 2014.

“Don’t be alarmed by the substantial decreases in market metrics last month including active listings, newlistings, number of homes sold and overall sales volume,” said Anthony Rael, Chairman of the Denver Metro Association of REALTORS Market Trends Committee. “While it's good to be aware of how the market is shifting from month-to-month, it's equally important to pay attention to the 12-month trends.”

The month-over-month detached single familyhome market saw a sharp drop of 39 percent in new listings, but was eight percent more than November 2014. The condo market showed thesupply of new listings decreased 34 percent over the previous month, but was up 25 percent year over year (YOY). For the entireresidential market, under contracts decreased by17 percent (up 12 percent YOY), sold listings decreased 30 percent (down 11 percent YOY) and total sales volume dropped 29 percent to $1.23 billion from theprevious month (down one percent YOY).

Digging into the housing statistics, 3,374 new listings came on the market while 3,987 homeswere placed under contract and 3,373 homes sold and closed.

Notably, the closed sales volume year-to-date is a record $18.5 billion, a 14 percent increase from 2014, which may be attributed to Denver’s economic growth in the last year.

Please contact me if you are thinking of selling or purchasing a home in 2016. I would love to show you how I can help you maximize your home's value for selling or help you form a strategy to purchase in this competitive market.

Marc Blitstein

Marc Blitstein has been a licensed Real Estate Agent since 2004. Real estate experience has been in employee relocation, residential property, short sales, investment property, and bank owned property....

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