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Shane’s January 2018 Market Report

Well, 2018 is underway and many are wondering how the new year in Denver real estate is going to look. In a market like Denver that seems to be in a rocket shooting straight for the moon, everyone is watching us very carefully. In a recent Denver Post article, they mentioned that we have the 8th-fastest growth rate in the country. This is slightly lower than in past years but is still in the top ten.

January is the month that gives us a good picture of what the rest of the year will look like in the Denver real estate market and all I can say is “Hold On!” Nothing seems to be stopping us yet. With companies moving in, incomes on the rise, and the confidence of the people, the market here seems like it can hold us at those top numbers for a while. In fact, our team here at Legacy Realty has been talking a lot about what we as individual agents are experiencing in our businesses. All of the homes that we are currently working on with our agents still have multiple offers going for as high as 10% over asking price and many competing offers. So, to answer the question at hand, January was crazy which I would expect to mean that 2018 will be another crazy year for the Denver real estate market as well.

Here in our January Market Report, I would like to share a few statistics comparing 2017 to 2016:

* In 2017 we had 76,471 new listings which was up 7% year-over-year.

* We had 79,153 under contract listings which is up 8.4% over the previous year.

* We also had 65,768 sold listings which is up 6.8% over the sold listings in 2016.

* Our 2017 Sold-to-List Price was actually at 99.9% and 2016 we were at 100%, so not much change there.

As you can see, our Denver real estate market is still holding strong and is looking to hold strong for the entire year. As I’ve mentioned in every Market Report that I have been doing recently, I do expect a slight slow down. With the number of houses being built and the number of listings increasing, supply and demand is turning a little so we should see a “slight” slowdown. If you are a buyer or investor, now is still the time to buy real estate in Denver. If are a seller needing to sell, prices are still high so you should feel confident that you are getting a good price for your home.

That’s all for now! Stay tuned for more from all of us here at Legacy Realty!