First To Know
Market Stats for Greater Metro Denver
Recent Stats as of January 2022
Year in Review - 2021
2021 proved that nothing is predictable in the Greater Metro Denver real estate market. The red hot market broke records and defied prior trends. Case in point: the average price for a single family home was up 17% YoY in December to more than $700K. 2021 also saw a record low level of inventory and a sky-high percent of closed price to list price. Below, we examine the trend of demand versus supply from 2009 to 2021 showcasing the increased imbalance each year. Key highlights for December are below.
The Highlights
Single Family Average
$702,373
Up 17% YoY
Condo/Townhome Average
$437,555
Up 14% YoY
Supply - Active Listings
It didn’t seem possible for active inventory to plunge any lower but that was the case in December. Supply was down 32% over November and dropped 64% compared to this time last year.
0
Active Listings
DOWN
0
%
YoY
New Listings
December saw 2,561 new listings, but this is a drop of 12% over 2020. December is historically a slower time for new listings and, given that demand remains high, now might be a strategic time for sellers to act. The hope for buyers is that 2022 brings more listings to the market.
0
New Listings
DOWN
0
%
YoY
Demand - Pending Sales
Given the shortage of inventory, it is not surprising that demand remains roughly the same as December 2020.
0
Pending Sales
DOWN
0
%
YoY
Average Price per SqFt - Single Family
The average PPSF for Single Family homes is $271, an increase of 17% year-over-year. In the attached report you will also see PPSF for the Condo market.
$
0
Avg PPSF - Single Family
UP
0
%
YoY
Months Supply of Listings
The months supply of listings is calculated by taking the inventory of homes for sale at the end of a given month and dividing by the average monthly pending properties for the last 12 months. This number tells us how long our active inventory would last without any new inventory coming onto the market. This is also known as the absorption rate. A balanced market is typically 6 months of inventory. December’s month supply is .3 a drop of 63% over 2020.
0
Month Supply
DOWN
0
%
YoY
Percent of Closed Price to List Price
December’s percent of closed price to list price remains roughly the same as 2020. This data point is still well-above prior years, again affirming a strong seller’s market. This will be an interesting metric to watch as we enter 2022.
0
%
% Closed to List
UP
0
%
YoY
Greater Metro Denver includes the following counties:
- Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
- Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market.
- Information deemed reliable but not guaranteed.
- © 2020 Land Title Guarantee Company. All rights reserved.
Information and Statistics provided by Land title Guarantee Company
