Denver Housing Market Report December 2021: What's Going On With Denver Real Estate Market Today?
The December 2021 Denver Metro real estate market report is OUT!
It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening especially if you are thinking of buying a home in Colorado or selling a home in Colorado. Understanding the Denver real estate market statistics is crucial especially now when everything is slowing down because of the upcoming holidays this 2021. Understanding the real estate market reports is a great start to observe the changes that happened, unfold challenges, and discover opportunities that both buyers and sellers can benefit from in today's Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.
Denver Metro Housing Market Report
The December 2021 Denver Metro housing market report showed a drastic decrease in inventory as we move closer to the holiday festivities. We have seen the Denver real estate market showing a continuous decrease in month-end active inventory throughout October to November. The month-end active inventory drastically dropped to 2,248 which showed a 33.41% decrease compared to the previous month's real estate statistics. The December 2021 Denver real estate market report only had 1,444 single-family detached homes for sale and only 804 attached properties for sale by month's end throughout the entire Denver Metro area.
While it may be common for sellers to hold back on selling and some buyers slowing down to enjoy December festivities, there are still amazing opportunities to take advantage of and a lot of reasons to step on that gas pedal on buying a home or selling a home in Denver right now. One of the greatest opportunities that we have in the Denver real estate market is that interest rates are still low. While most people typically take a break to celebrate the holidays and enjoy winter vacations, people actually have more free time off to look at homes for sale in Denver. There is less competition too so looking while others are not, gives buyers a competitive advantage in buying their dream home. Despite the low inventory, buyers are still relentlessly looking for homes for sale in the Denver Metro area and homes are still being sold. Based on recent real estate market reports, there have been more homes purchased than in any of the previous five years.
Selling your home in Denver during the holiday season is also never a bad idea as there is much less competition as well, almost all homes are in demand because of the shortage of homes for sale in the Denver Metro area, and there are more serious and motivated buyers looking to buy a home in Denver Metro area. The low inventory of homes across all price points in the Denver real estate market will continue to keep even the homes under the highest price points seeing multiple offers and home prices will continue to soar. We are expecting to see more of the slow down in activity as we approach the end of the year with the weather changes and holiday festivities, however, we do not see a decrease in demand for homes for sale in Denver making it a great time to sell your home in Denver.
In the November 2021 Denver housing market report, there were only 1,444 single-family detached active homes at month-end on the market which showed a 38.58% decrease compared to the previous month and a 17.72% decrease compared to last year. There were also 2,561 new homes listed on the market at month-end which also showed a 30.82% decrease compared to the previous month but showed a 3.68% increase compared to the previous year. There were 3,513 single-family detached homes were sold in November 2021 which showed an 8.97% decrease compared to the previous month and also a 7.87% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down but only by a day with an average of 15 days of being live on the market compared to 14 days from the previous month.
In the attached market, attached single-family homes in Denver showed a 21.56% decrease in active homes at month-end at 804 attached homes compared to the previous month and a whopping 51.57% decrease compared to the previous year. There were only 1,180 new listings that showed a 26.98% decrease from the previous month and a 3.83% decrease compared to the previous year. There were 1,419 sold attached single-family homes in Denver also showed a 13.74% decrease from the previous month and a 10.81% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a day with an average of 16 days of being live on the market compared to 15 days from the previous month.
Buying or Selling a Home in Colorado
If you are planning to sell your home in Colorado, now is the best time as there's a shortage of homes for sale in the market and you can expect multiple offers. On the other hand, if you are planning to buy a home in Colorado, this season is perfect for you too as there isn't a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and is backed with experience to help you be successful in today's challenging Denver real estate market. If a new home in Denver is on your Christmas list, My Colorado Move, AKA Santa's Real Estate Helpers is here to help you find your dream home.
Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's real estate opportunities.
To download or see a copy of the full report, click here.