YEAR TO DATE
With one month remaining in 2021 the Denver Metro housing market is on pace to have a record-breaking year in terms of both Closings and prices.
New Listings are struggling to keep pace with demand and, as a result, available inventory has fallen to record low levels. The Average Closed Price for a home has now eclipsed the $600,000 mark with the average price of a single family residence 18% higher than we saw last year at this time. Buyers remain eager to purchase homes, due in part to low mortgage interest rates and are taking homes off the market on an average of only 14 days.
-4% Homes Closed
In the Denver Metro area this November, 5,169 homes Closed, a 4% decrease compared to last November and a 5% decrease month over month as the market continued to see seasonal cooling and buyers took a break to celebrate a long holiday.
Home prices in the Denver Metro area continue to climb. In November, the Average Closed price for a home in the Denver Metro area was $627,945, 15% higher than November 2020 and 3% higher than October 2021.
+2% New Listings
Sellers added 3,751 New Listings to the market in November, an increase of 2% year over year. Month over month the number of New Listings decreased 29%.
-6 Days in MLS
In November, homes spent an average of 16 days actively for sale in the MLS, 6 days fewer than last November and 2 days more than last month.
So, How’s the Market, December 2021 All data taken from REColorado on December 14th, 2021 for the 8 county Denver Metro Area.