December Market Update
AVERAGE SOLD PRICE:
December 2020 – $584,904
December 2021 – $671,178
We saw the second month of prices continuing to increase which means we are headed back into the seasonal seller’s market. Year-over-year we saw a 14.8% increase in home value from December 2020 and expect that trend to continue into 2021 for Denver Metro real estate.
December 2020 – 1.2 inventory
December 2021 – 0.7 inventory
In monthly inventory we saw a 41.7% decrease from last year. We also saw a decrease from last month’s numbers. As we head back into what is seasonally thought of as a Seller’s Market, we expect this trend to continue and for the real estate market to be as competitive as last year.
December 2020 – 6,564
December 2021 – 3,914
We are three months into a continuous decline in the number of active listings in the Denver Metro area. Year-over-year we saw a 40.4% decrease, which is even larger than the decrease last month.
DAYS ON THE MARKET:
December 2020 – 7
December 2021 – 6
As we saw last year, there was a drastic drop in the number of days houses were on the market in December and this year was the same. We only saw a one-day difference from last year, but a 10-day difference from last month. Keep in mind that these numbers are swayed by larger homes and remodel projects.
The Denver Metro market continues to be strong as we enter 2022! Appreciation values are continuing to be over 10% year over year, and we expect that to continue for the foreseeable future. We are still advising that those looking to buy make a move before we hit the April-September Seller’s Season.
Investors should do the same and buy now! As we mentioned above, the appreciation of homes in the Denver Metro market continues to be around 10% year-over-year and could help you build a great deal of wealth using equity.
Sellers, it is time to start looking at selling your home. Give us a call and we can talk through some things that might help boost the value of your home and when the best time for you to sell might be.
Curious to know more about the market in your neighborhood or community? Give us a call!
Please keep in mind that every real estate transaction is different, but we are always happy to sit down and have a conversation and help you look at your options for buying, selling, or investing.