Market Recap: Housing supply was low through the last half of 2020 and is currently the lowest we have ever seen in Denver. Even faced with more expensive home prices buyers are desperately searching and competing for the few available homes. Above list offer prices, appraisal waivers and limited inspections seem to be the norm included in most offers. The high appreciation along with historic sales volume upped the benchmark once again with $33.1 billion of residential real estate sold in 2020 regardless of a decrease in inventory by 39.17%.
Market Predictions: Flexible spaces and home offices are the trend for 2021 as multi-generational homes become more popular and we see a rise of permanent work from home arrangements being offered by employers. This year looks to be another strong year in housing in Metro Denver. We expect inventory to stay low at least through the first half of the year which will lead to greater than average appreciation numbers.
Market Overview
Single Family
Active Inventory 1,316
Closed Homes 3,327
Ave Close Price $616,895
Ave Days in MLS 20
Condos & Townhomes
Active Inventory 1,225
Closed Homes 1,480
Ave Close Price $391,975
Ave Days in MLS 31
Real Estate Humor
How many insects do you need to make money from your rental unit? Tenants.
