Demand was strong across Colorado in February with closings at or above 2020 levels. Additionally, properties that came on the market were quickly scooped up with contracts written on them after spending just a few days in the MLS. Based on the number of Pending Listings we saw in February, March could be another strong month for closings. Take a look at our February reports for the Denver Metro area, Central Colorado, and Routt County to get the information you need to stay in the know.
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Denver Metro Area
The number of New Listings sellers are bringing to the Denver Metro market is not keeping pace with demand, which pushed available inventory to another record low. The number of Active Listings for sale in the 11-county Denver Metro Area was just over 2,000 at the end of February. Throughout the month, we saw 3,878 closings and 4,785 contracts written on listings. Strong demand pushed home prices higher once again, with the average price of a single-family home up 14% from last year to $553,231.
The Routt County housing market had a record-breaking February led by a very strong Condo/Townhome/Multi-Family market. The number of homes closed was 72% higher than last February and the number of new listings of homes for sale that hit the market was 66% higher than last year at this time. More than half of all homes closed sold for more than $600,000. Get the full details by looking at the complete Routt County market statistics report.
With the exception of Days in MLS, all arrows pointed up for the Chaffee County housing market in February. Sellers brought 53 new listings of homes for sale to the market. Those listings were scooped up quickly spending a median of just 4 days in the MLS. The count of February closings was 46% higher than we saw last year. In February, the Median Sold Price of a Routt County home was $530,000, which is 33% higher than we saw in February 2020. Get the full details by looking at the complete Routt County market statistics report.
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.