At the close of the year 2021, demand drove year-over-year prices up while new listings struggled to keep pace. We saw record-high prices for homes across Colorado, including the Denver Metro Area. Read on to find the latest REcolorado Market Watch reports for the Denver Metro Area, Routt County, and Chaffee County.
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Denver Metro Area
Home sales were down 12% from both last month and last year, while prices stayed relatively steady compared to last month. Average Closed Price for a home was $622,740, up 15% from December 2020. Homes continue to sell quickly, spending a median of only five days Active in the MLS, which is two days fewer than last year. As the year came to a close, supply of inventory stood at only one week.
Throughout December, 32 New Listings hit the market in Routt County, fewer than both last month and last year. Tight inventory and high demand drove prices to a record high for the month of December, with a Median Closed Price of $800,000. The year ended with only three weeks of inventory in Routt County.
REALTOR® Association Market Statistics
In addition to the market statistics reports produced by REcolorado, we provide housing market data and collaboratively produce statistics reports with local REALTOR® associations.