New Year Same Old Story For Buyers...

With a dawn of a new year, buyers were hopefull that this would be the year to finally get a home. Well the same old challenge remained for potential buyers.VERY low inventory causing prices to spike upwards to a median home price of $541,838. That's up by 19% compared to this time last year.

Although there were more new listings come to market compared to December 2021, it wasn't enough to keep up the early damand for 2022. 

The lack of inventory has pushed down most of the metrics down. New listings were down 16%. Pending sales were by 11% and the closed homes were also down by 9% compared to this time last year. 

The Denver Metro Area real estate maket still only has 2 weeks of inventory keeping it a VERY stront Sellers market. 

If you're looking to buy a home expect to see more of the same. Multiple offers (all well over the asking price) and limited contingenices still remain what sellers are expecting when selling their homes.  

January 2022 Market Watch Report

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