According to the latest marketing statistics from REcolorado, the Denver Metro market continued to experience increased inventory levels in January, due in part to 4,817 new listings coming on the market, more than double what we saw last month. This means buyers have more options than they’ve had in quite some time, which may help relieve some of the stress home buyers have been feeling over the past few years. There is currently 8 weeks of inventory, 1 week more than last month and 2 weeks more than last year.
In January, home sales decreased 8% from last year and are down 24% from last month. The number of homes that moved to Under Contract in December was 8% higher than last year, indicating it was an active month. The rate at which home prices are increasing has continued to moderate in January, with the average price of a single-family home rising to $460,525, up 3% year over year.
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We pull statistics on the fourth business day of the month because it leaves time for you to make your status changes. (We require status changes be made within three business days because we’re all about accurate data and we know you are, too!)
Quick Infographic for Denver Metro
Detailed Infographic for Denver Metro
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