YEAR TO DATE
After a surge during the summer months, home prices began to level off in the later part of the year. Still, they are 17% higher than we saw at this point in 2020. Thanks in part to favorable interest rates buyers are not shying away from higher priced homes. Year to date more homes have closed than we saw at this point in both 2019 and 2020 with buyers purchasing 34% more homes in the $1M+ price range as compared to this time last year. Home buyer demand has resulted in low levels of standing inventory because homes that come on the market are moving to the Pending status in an average of just two weeks.
-18% Homes Closed
The number of sold homes in October of 2021 decreased to 5,354 or 18% fewer homes closed this year over last year in October – and 4% down from last month.
October 2021, the data shows an increase of 9% in price over October of 2020 for an average price of $612,153.
-13% New Listings
In October, sellers added 5,317 new listings to the market, (or 13% down from last year at this time).
-10 Days in MLS
Homes spent an average of 14 days on the market in October of 2021, 10 days fewer than last October.
So, How’s the Market, November 2021 All data taken from REColorado on November 17th, 2021 for the 8 county Denver Metro Area.