Monthly Market Update
Between August 2020 and August 2021, home prices across the United States and Canada rose to record levels, with the U.S. housing market rising to a record of 19.9% and the Canadian housing market rising to a record 21.4%.
2022 stands to be another strong year for sellers. If you're thinking about selling your home, being aware of the trends in the market will help you understand the strength of the market.
While our Denver market traditionally sees a 70 percent increase in new listings from December to January, the market ended down 17.77 percent in new listings compared to 2021, a 31.04 increase from the previous month. Likewise, the market ended with month-end active listings at a historic low of 1,184 - breaking yet another record! To put into context, that is over 10 times less inventory than normal for this time of year.
Last year at this time, there was little inventory. This year, there’s only half as much at 48.88 percent less, which will likely translate to fewer homes being bought and sold over the course of the year. There might be less to choose from in the Denver Metro area prompting the continuation of extreme bidding wars.
Our monthly market highlights showcases everything you need to know about local real estate trends over the last month.
February Market Update for Denver Metro
Data as of month end January 2022
Active Listings @ Month End
Close Price Average
Average Days in MLS