Denver Real Estate 2016 Trends

Denver Real Estate 2016 Trends

“Last year, there was a recorded 65,872 new listings, up six percent year-over-year (YOY),

Days on Market were at 31 (down 18 percent YOY), average home price was $363,143 (up 12 percent YOY), and median home price was $314,000 (up 14 percent YOY).

Month-over-month, digging into the December MLS housing stats, 2,275 new listings came on the market, down 33 percent; 2,766 homes were placed under contract, down 31 percent; and 4,170 homes sold and closed, up 15 percent from the previous month. December closed out with 4,384 active listings, representing a 23 percent decrease in inventory over November, but 0.67 percent more – or 29 total – properties than December 2014. The total sales volume jumped 18.5 percent to $1.56 billion from the previous month.

Notably, since 1985, Denver-area has averaged 13,869 active listings in December. The high-water mark was 24,603 listings in 2007 and the record low-point was 4,355 in 2014.

The single-family market, month-over-month, had a sharp drop of 31 percent in new listings or four percent fewer new listings than December 2014. The average and median sold prices ticked upward from the previous month with increases of four percent to $414,472 and one percent to $347,000 respectively.

The condo market showed the supply of new listings dropped 36 percent over the previous month to 646, while the average sold prices remained relatively unchanged with a 0.47 percent increase to $278,656 and 0.45 percent decrease to $223,000.” – Reports DMAR