Market Predictions: Optimism remains high for the 2019 Denver Metro real estate market. While interest rates are increasing, loan applications are on the rise. The low supply of inventory will still drive the market and push prices up. However, we should see a slightly softer market than last year. Metro Denver will still be in a Seller’s Market but cooling a little each year for the next two years. As inventory rises, we will have fewer bidding wars and see lower appreciation levels. We expect the spring buying and selling season to be in full swing by mid-March.
Market Recap: The number of homes new to the market in December dropped 41.18% down from November which is common for December. The number of sales was also down 17.79% from November. Sellers had their homes on the market longer from 32 to 39 days.
Market Overview
Single Family
Active Inventory 3,892
Sold Home 2,474
Ave Sold Price $508,016
Ave Days on Market 41
Condos & Townhomes
Active Inventory 1,685
Sold Home 922
Ave Sold Price $350,176
Ave Days on Market 35
Real Estate Humor
The older generation’s dream was to pay off the mortgage.
The younger generation’s dream is to get one.
