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2016 Denver Metro Market Report
2017 certainly had some exciting moments in several areas of our life. The real estate market is still growing strong but we’ve started to see our traditional slowing down during the winter and holiday season. The following statistics are from Boulder/ Longmont to Larkspur and Idaho Springs to Bennett to get more accurate data in the Denver Metro market. These numbers do not include December 2016 as I pulled the data before year end. This is single family detached homes only.
• Number of home sales have increased since 2010. 2016 has passed 2015 and 2014 number of sales in the same period.
• Our average number of listings continue to decline, every year since 2010. From (2010) 26,240 average listings per month to (2016) average 4,931.
• Median sale price has increased every year from (2010) $232,879 average to (2016) average of $378,861.
• The ratio of real estate sales versus number of listings has dramatically increased from (2010) average 9.09% to (2016) average of 60.3%
What does this mean? We have less inventory and more people in the market that want to purchase homes. This and the increase in rents combined with the low interest rates on mortgage has made Denver a very hot real estate market. Even with the recent mortgage rate increase after the elections, due to low inventory and the high demand, value will continue to increase.
Contact me if you want an accurate valuation of your property. Douglas Hauck 303-400-0472 doug@DouglasHauck.com
• Number of home sales have increased since 2010. 2016 has passed 2015 and 2014 number of sales in the same period.
• Our average number of listings continue to decline, every year since 2010. From (2010) 26,240 average listings per month to (2016) average 4,931.
• Median sale price has increased every year from (2010) $232,879 average to (2016) average of $378,861.
• The ratio of real estate sales versus number of listings has dramatically increased from (2010) average 9.09% to (2016) average of 60.3%
What does this mean? We have less inventory and more people in the market that want to purchase homes. This and the increase in rents combined with the low interest rates on mortgage has made Denver a very hot real estate market. Even with the recent mortgage rate increase after the elections, due to low inventory and the high demand, value will continue to increase.
Contact me if you want an accurate valuation of your property. Douglas Hauck 303-400-0472 doug@DouglasHauck.com
