Denver Metro Homes Flying Off the Shelves as We Begin a New Year
December 2021 ended with a mere 1,477 homes available for sale across all 11 counties, a 41.87 percent decrease from last year. 2,652 new homes came onto the market and 3,321 went under contract (i.e. coming off the market because they found a buyer) (DMAR).
And 2021 was a crazy year all around:more homes sold in 2021 compared to any other year on record and the median home price went up by a stunning 19.78 percent. We also ended the year with the lowest inventory on record.
The average sale price of a single-family home in metro Denver came in at $705,753 an increase of $95,289 from the same period a year ago.
2021 was a crazy year all around: More homes sold in 2021 than any other year on record and the median home price went up by a stunning 19.78 percent. We also ended the year with the lowest inventory on record.
Key Quotes from DMAR:
- Homes appreciated 19.78 percent in 2021 compared to 2020 (median sale price)
- Based on the sustained demand for housing and lack of inventory, it is likely to see double-digit appreciation this year
- Since 1991, Denver Metro area homes have appreciated about 7.5 percent per year
- Approximately 991 homes were destroyed in the Marshall and Middle Fork fires. Officials continue to assess the full extent of the damage but have said there were 1,778 homes within the burn area with a total value of $825 million.
- The closed dollar volume for 2021 was $38.9 billion for the metro area. This broke 2020’s record of $33.2 billion
A quick look at what happened in December:
- Denver metro’s active listings available at the end of the month declined by -34.3% over last month
- The December median sale price was $545,000 up 19.78% from last year
- The average home spent 18 days on the market during December, 6 fewer days than the same time last year
- The average price of a single-family detached home is currently $705,753an increase of $95,289 from the same period a year ago
Average Interest Rates by Year in Denver
|Average Interest Rate||5 %||4.7 %||4.4 %||3.6 %||4 %||4.2 %||3.8 %||3.7 %||4 %||4.6 %||3.9 %||3.1 %|
Datacourtesy of Megan Aller | First American Title
The number of active homes available in Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties from August 2017 – December 2021 Source: DMAR | Graph by Usaj Realty
During these unprecedented times, Usaj Realty would love to carefully assist you with finding your next place to call home, or selling your current property. Our acumen, attention to the market, and negotiation skills will all go to work in order to advocate for your goals. Email us at firstname.lastname@example.org or call 720.398.2999. We measure our success by the happiness of our clients!
Read Denver Metro Association of Realtor’s full report on last month’s Real Estate trends and statistics in Denver here.
And as always, please let us know if you have any questions!
Whether buying or selling, Usaj Realty is dedicated to helping you stay competitive. Your Usaj Realty broker will communicate effectively, learn your goals like the back of their hand, and work closely with you to negotiate the best terms possible, and expertly manage your transaction from start to finish, ensuring peace of mind.
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