Strong Start To The Year

The Denver Metro housing market experienced a strong start to the year with an uptick in both buyer and seller activity. Pending listings increased nearly 50% from December 2022, indicating increased closings in the upcoming months.

Standing inventory, or the number of home listings actively available for sale at the end of the month, returned to pre-pandemic levels in January. Buyers have more inventory to consider and are taking their time to execute offers.

Although sellers brought 69% more New Listings to the market than we saw in December, inventory levels remain low, especially in the more affordable price ranges.

Median Closed prices have been declining steadily following their peak in the spring of 2022. They dipped again in January and are now 14% lower than the 2021 peak. Home prices are staying in check as buyers exercise their negotiating power. In January, the median closed price was 4% lower than the median list price.

The metric for Days in MLS, which is the number of days it takes a listing to go from Active to Pending, shows home shoppers are taking their time to make home-buying decisions. In January, shoppers took a median of 5 weeks to execute a contract on a home.

If you're in the market to purchase or sell real estate in 2023, make sure to give us a call. We would love the opportunity to assist you with your real estate needs. 

January 2023 Real Estate Report

January 2023 Market Watch Full Report

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