Greater Denver Metro Real Estate Market Charges on with Historic Low
Inventory Causing Appreciation to Soar
Inventory drops to historic lows as the average price of single-family detached
and attached homes reaches record high.
In January, the Greater Denver Metro housing market again broke an all-time record, a new inventory low with only 2,316 total properties on the market, translating into an inventory shortage and opportunity for appreciation to accelerate.
Single-family detached properties hit a record average price of $629,159, while attached properties hit a record of $397,792. Single-family home sellers saw a 101.03 percent close-to-list-price in January and a drop to five days in the MLS, down from six last month and 24 days last year. Overall, the drive in demand has been proportionally higher for single-family detached properties than attached properties, explaining why the market is currently sitting with historic low inventory for single-family detached properties.
Denver Metro Association of REALTORS® (DMAR) - an organization comprised of over 7,000 real estate professionals and The Voice of Real Estate® in the Denver Metro area released its February Denver Metro Real Estate Market Trends Report today, February 3, 2021