2017 hit record highs for the number of homes sold for higher prices than ever before, however inventory has remained extremely low. See below for our report for December 2017 and please let us know if you have any questions. We email this market infographic report on the Denver Real Estate Market out each month. To get on that email list, please reach out to marketing@usajrealty.com and request to be added!
Key Takeaways for December 2017 via DMAR for Metro Denver:
- Active Inventory was 24.98% lower than last month and 9.64% lower from December 2016
- December 2017 Active Listings was: 3,854
- November 2017 Active Listing was: 5,131
- October 2017 Active Listing was: 6,312
- September 2017 Active Listings was: 7,586
- August 2017 Active Listings was 7,360
- Median Sales Price a condo in Metro Denver in December 2017 was: $285,000
- Up from November 2017: $272,000
- Down from October 2017: $275,000
- Up from September 2017: $268,000
- Down from August’s $275,000
- And up from July’s $270,100
- Median Sales Price a single-family residence in Metro Denver in December 2017 was: $415,000
- Up from November 2017: $405,000
- Down from October 2017: $415,000
- Down from September 2017: $409,000
- Down just slightly from August’s 2017: $410,000
- And down from July’s $420,000
An Overview of the Market:
- “In shock to no one, Fed raises rates with expectation economy will improve next year. Target federal funds rate increased to 1.25% to 1.5% ” – HousingWire
- “If you’re a buyer having trouble finding a home, you’re not alone. According to a new Trulia report released today, the U.S. home inventory decreased 10.5 percent this quarter compared to the same period last year. That’s the largest drop in inventory since the second quarter of 2013.” – Curbed
- “Under the current setup, roughly 44 percent of U.S. homes are worth enough for it to make sense for a homeowner to itemize their deductions and take advantage of the mortgage interest deduction.[1] Under the new bill (as reported), that proportion of homes drops to 12.5 percent.” – Zillow
- “U.S. single-family rents up 2.9% year over year in September: National single-family rent prices climbed steadily between 2010 and 2017, as measured by the CoreLogic Single-Family Rent Index.” – CoreLogic
What’s Happening in Denver:
- “In summary, 2017 marked a new record high for the number of homes sold for higher average and median prices than ever before. Closed volume set a new record too in 2017 topping $25 billion – up from $9.9 billion in 2011.” – DMAR
- “New annual figures from the bureau’s American Community Survey show that Colorado saw its first drop in about a decade last year in the number of people arriving from other states, while those leaving Colorado hit a record high.” – Fox31
- “Denver is getting cheaper…sort of. The high cost of housing in this city was a hot topic in 2017, but Denver is now the eighteenth-most-expensive real estate market in the country, down two places from sixteenth in December, according to Zumper.” – Westword
- “A record 57,788 single-family homes and condos sold across metro Denver last year, an increase of 2.93 percent form 2016, and ahead of the 2015 record of 56,062.” – Denver Post
Report for Metro Denver:
And as always, please let us know if you have any questions!
