2019 Is Off And Running...
The housing market across the greater Metro Denver area is off to a great start! New listings are way up with nearly 5,000 new listings to the market accounting for a whopping 109% increase compared to last month!
More Listing = More Opportunities For Buyers
The start of the year typically signals the increase of new listings as many sellers wait to put their home on the market until after the holidays.
The data shows that homes listed in January, more than doubled the number of new listings in December. It reflects a 14% increase from last year. The 4,817 homes for sale reflects more new listings than we’ve seen in January since 2013.
We are currently looking at 8 weeks of inventory, which is up two weeks compared to this time last year.
Sales Are Down, However Under Contract Homes Increased
Home sales in January were down year over year, the number of homes under contract increased by 8% this January.
Meanwhile, the average price of a single-family home continued to increase, but was only up 3% compared to last year.
The median home price for January was $395,000. Almost half of the new listings were between $300-500,000. This price range continues to be the most competitive price range in the Denver housing market.
More Market Stats
