First To Know
Market Stats for Greater Metro Denver
Recent Stats as of February 2023
Monthly Highlights
We are officially in a Winter market. The recent cold likely put a damper on real estate activity, but typically the market starts to heat up from mid-January to March ushering in the Spring market. The year started off with 3,925 active listings - 1,829 more homes on the market than we saw in January 2022 (an increase of 87%). High prices continued with the median closed price of $588,000 being one of the highest we have seen since 2009 (only 2022 was at the same level). Demand was up when compared to November and December - there were 3,141 pending sales in January, an increase of 40.2% when viewed month-over-month. The demand increase is likely due to fluctuating mortgage rates and the increased ability to negotiate pricing with sellers.
The Highlights
Single Family Average
$688,228
Up 1.2% YoY
Condo/Townhome Average
$444,156
Down 1.0% YoY
Supply - Active Listings
Active listings were up 87.3% when compared to last year and down 22.5% when compared to last month. This number is just above where we started 2021.
0
Active Listings
UP
0
%
YoY
New Listings
Only 2,699 new listings came on the market in January, the fewest number of homes to enter the market in a given month since tracking began in 2009. That said, this metric was up 60.0% compared to last month.
0
New Listings
DOWN
0
%
YoY
Demand - Pending Sales
Demand was down 11.3% year-over-year but up 40.2% when compared to last month.
0
Pending Sales
DOWN
0
%
YoY
Average Days in MLS
Days on market saw an increase to 45 days, on average. This was an increase of 7.1% when compared to last month (which saw 42 days on average), and up 136.8% year-over-year. Buyers continued to have an advantage with increased time for decisions.
0
Days in MLS
UP
0
%
YoY
Percent of Closed Price to List Price
This data point was significantly off the highs from 2021 and 2022. January saw 98.2% – a decline of 0.3% compared to last month.
0
%
Closed to List Price
DOWN
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
