Denver Metro Market Trends January 2020

Market Recap: Last year, there were talks of another housing crash since home sales had increased 45% from 2017 to 2018, but at the end of 2019 the amount of inventory had diminished with 30% fewer new listings coming on the market in December compared to the prior month. With the current rate of sales, it would only take about a month to sell through all the homes listed. We ended last year with home prices 4.93% higher than in 2018.

Market Predictions: We have started 2020 with Sellers in control due to the lack of inventory. We expect inventory levels to rise again this spring with the average days on the market for a listing being more than in years past. However, Buyers should continue to see low-interest rates, a strong job market, and a steady economy. Real Estate continues to be a good investment in the Metro Denver areas. We are looking forward to a great 2020!