This Train Keeps On Chugging Along...
Homes Closed
November proved to be another record setting month selling more homes than any other November on record. Throughout the month, 5,236 homes closed, which represented a 22% year over year increase!
Despite the fall month, pending homes reached 4,811 which reflected a 16% increase from this same time last year. For all the bad in 2020, Denver's housing market continues to be one of the few bright spots.
Prices
The average closed price for a home across the Denver Metro Area in November was $547,094. This reflected a 13% increase year over year. It was slightly down by 2% compared to last month.
The Average closed price for a Single Family home was $612,984! This is a 15% gain over November 2019 and a 2% increase over last month.
Multi Family/Condo/Townhomes were up by 7% year over year. Coming in at $387,789.
New Listings
Inventory continues to be very tight despite having 3,695 new listings in November. At the end of November inventory levels were down by a whopping 47% from this time last year. Inventory was also down by 19% from last month showing that things will not ease for Buyers until more listings come to market.
Days On Market
Homes continue to sell as quickly as they come available. Days on market were down to only 22 days. This reflects a 13 day decrease from this time last year.
Summary
As we prepare to watch the ball drop on 2020, you can rest assured that Denver Real Estate will continue to be strong through the rest of this year and beyond.
More Market Stats
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