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March 2020 Denver CO
Real Estate Statistics & Market Trends Report
DMAR Denver Real Estate Market Trends Report : Denver Metro
Association of REALTORS
Single Family Homes | Single Family Condos |
Residential Market | Luxury Market ($1Million+)
Denver CO Real Estate Market Snapshots by Anthony Rael, RE/MAX Alliance
Denver-area homebuyers and sellers
‘leaped’ into action in February with median days on market at 12,
increases in both the number of homes sold and prices and new listings up
but active listings down.
In February, 5,122 new listings came on the market, up
5.56 percent from the month prior which saw a massive month-over-month
increase. Home sales were up 3.16 percent in February so the month ended
with only 4,835 active listings, down 2.15 percent from January and 19.64
year over year. Despite being one of our snowiest Februarys on record,
real estate agents put more homes on the market, up 5.56 percent from the
prior month. 7.08 percent more homes shifted into pending (under contract)
status and we closed 3.16 percent more deals than in January.
The low months of inventory mean sellers have the
advantage in all price segments except for the Luxury Market. Homes priced
above $1 million had higher months of inventory, indicating homebuyers may
have a little more power in negotiations on high-end homes in some areas.
Notably, the median days on market in the entire residential market
dropped 55.56 percent to 12 days in February from 27 in January. The
average closed price of a single-family home came in at $544,054, up 2.51
percent month over month. The median year-to-date close price was
$465,000, an increase of 8.14 percent compared to 2019.
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The DMAR Stats and Trends Report also includes
statistics and analyses in its supplemental Luxury Market Report
(properties sold for $1 million or greater), Signature Market Report
(properties sold between $750,000 and $999,999), Premier Market Report
(properties sold between $500,000 and $749,999) and Classic Market
(properties sold between $300,000 and $499,999). In February 2020, 141
homes sold and closed for $1 million or greater, up 18.49 percent from
January and 8.46 percent year over year. The closed dollar volume in the
luxury segment in February was $215.45 billion, up 17.6 percent from
January and 8.18 percent year over year.
Last month, the luxury single-family market alone
closed on 126 homes, up 20 percent month over month and 7.69 percent from
last year. “There are more buyers ready to purchase a home priced over $1
million than we saw in 2019. Single-family sellers are enjoying a more
crowded marketplace. That said, these new homeowners are still able to
negotiate the sale. The reported close-price-to-list-price ratio shows
that homes are selling at 96.63 percent of the asking price. This is
noteworthy as homebuyers in lower price points are competing with multiple
offers.”
The condo market is also up in the number of closed homes in February
which experienced a 7.14 percent increase from the prior month and 15.38
percent year over year.
Overall, luxury listings are staying on the market less time than last
month as reflected in a decrease in both the median and average days in
the MLS, at 47 and 76 days respectively. The highest-priced single-family
home that sold in February was $6,620,000, representing eight bedrooms, 13
bathrooms and 12,957 above ground square feet in Cherry Hills Village. The
highest-priced condo sale was $2,770,000 representing two bedrooms, three
bathrooms and 2,546 above ground square feet in Lower Downtown Denver.
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MARCH 2020 DENVER REAL ESTATE MARKET TRENDS REPORT
Monthly Report is based on the
most recent previous month of MLS stats from REColorado
Source:
Denver Metro Association of REALTORS® Market Trends Committee #dmarstats
Infographics Courtesy
of:
Anthony Rael, RE/MAX Alliance
Archived Denver
Real Estate Market Reports
Month-end Inventory, Average & Median Sales Prices, Days on Market
(DOM), Price Appreciation, Sales Volume & More!
Archived Denver
Colorado Real Estate Market Snapshots
A graphical look back at market stats and trends since
2015 : Infographics compliments of Anthony Rael
City and County Real Estate
Market Reports
Denver Colorado Real Estate Market Statistics &
Trends Reports - Main Index
October 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
September 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
August 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
July 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
June 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
May 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2020 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
February 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
January 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
2019 Year-End : a
30-Year Historical Perspective of the Denver Real Estate Market
December 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
November 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
October 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
September 2019 - Denver Colorado Real Estate Market Statistics & Trends
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August 2019 - Denver Colorado Real Estate Market Statistics & Trends
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July 2019 - Denver Colorado Real Estate Market Statistics & Trends
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June 2019 - Denver Colorado Real Estate Market Statistics & Trends
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May 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
April 2019 - Denver Colorado Real Estate Market Statistics & Trends
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March 2019 - Denver Colorado Real Estate Market Statistics & Trends
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February 2019 - Denver Colorado Real Estate Market Statistics & Trends
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January 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
December 2018 - Denver Colorado Real Estate Market Statistics & Trends
Report
November 2018 -
Denver Colorado Real Estate Market Statistics & Trends Report
October 2018 -
Denver Colorado Real Estate Market Statistics & Trends Report
September 2018 -
Denver Colorado Real Estate Market Statistics & Trends Report
August 2018 -
Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
June 2018 -
Denver Real Estate Market Trends Report
May 2018 -
Denver Real Estate Market Trends Report
April 2018 -
Denver Real Estate Market Trends Report
March 2018 -
Denver Real Estate Market Trends Report
February 2018 -
Denver Real Estate Market Trends Report
January 2018 -
Denver Real Estate Market Trends Report
December 2017 -
Denver Real Estate Market Trends Report
November 2017 -
Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
April 2017 -
Denver Real Estate Market Trends Report
March 2017 -
Denver Real Estate Market Trends Report
February 2017 -
Denver Real Estate Market Trends Report
January 2017 -
Denver Real Estate Market Trends Report
December 2016 -
Denver Real Estate Market Trends Report
November 2016 -
Denver Real Estate Market Trends Report
October 2016 -
Denver Real Estate Market Trends Report
September 2016 -
Denver Real Estate Market Trends Report
August 2016 -
Denver Real Estate Market Trends Report
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Denver Real Estate Market Trends Report
June 2016 -
Denver Real Estate Market Trends Report
May 2016 - Denver Real Estate Market Trends Report
April 2016 - Denver Real Estate Market Trends Report
March 2016 - Denver Real Estate Market Trends Report
February 2016 - Denver Real Estate Market Trends Report
January 2016 - Denver Real Estate Market Trends Report
December 2015 - Denver Real Estate Market Statistics & Trends Report
November 2015 - Denver Real Estate Market Statistics & Trends Report
October 2015 - Denver Real Estate Market Statistics & Trends Report
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August 2015 - Denver Real Estate Market Statistics & Trends Report
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Denver Real Estate Market Statistics & Trends Report
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Denver Real Estate Market Statistics & Trends Report
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Denver Real Estate Market Statistics & Trends Report
April 2015
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March 2015
- Denver Real Estate Market Statistics & Trends Report
February 2015 - Denver Real Estate Market Statistics & Trends Report
January
2015 - Denver Real Estate Market Statistics & Trends Report
NOTES:
Interview requests from the media should be directed to DMAR's
Marketing Communications at (303) 300-8490
MLS stats are tracked in arears, so the published report
is for the previous month-end activity
The DMAR 'Premier Market' is
defined as $500,000 to $749,999
The DMAR 'Signature Market' is
defined as $750,000 to $999,999
The DMAR 'Luxury Market' is
defined as $1,000,000 and over
11-Counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver,
Douglas, Elbert, Gilpin, Jefferson & Park
Research: Denver Metro Association of REALTORS® Market Trends
Committee
The DMAR Market Trends
Committee, part of the Denver Metro Association of REALTORS®, provides
timely, consistent, and relevant monthly summaries of valuable local
real estate market statistical data for both its members and the
general public. Statistics from the “Denver Metro Real Estate Market
Trends Report” provide data for the following counties: Adams,
Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert,
Gilpin, Jefferson, and Park. Source of the reported data is REcolorado.
Stats & Infographics Courtesy
of:
Anthony Rael, RE/MAX Alliance
Media Coverage
Former Denver Metro Association of Realtors Market Trends Chairman
Anthony Rael with RE/MAX Alliance is a trusted "go-to" real estate
expert for local, regional and national media. Below is a list of
recent media interviews with Anthony providing expert commentary.
Below are a few of media interviews he's provided commentary on:
Denver Post - Once the king, cash losing a little cachet when
it comes to buying a Denver home
Colorado Public Radio - Climbing Denver Home Prices Finally
Spark Some Building
Colorado Public Radio - Denver Home Prices Are Still
Climbing. The Good News? Price Growth Is Slowing
HousingWire.com : Mile-high Appreciation &
Mile High Appreciation
Colorado Public Radio - As Buyers Spar Over Denver Homes,
Veterans Find Themselves At A Disadvantage
VeroFORECAST Predicts Continuing Strength in Housing Market :
Top Markets Rising 10 Percent Over The Next 12 Months
Denver Business Journal : Denver area housing market to see big
value increase in 2018: Report
Denver7 & TheDenverChannel.com : Realtors warn of potential
security flaw at homes listed for sale
Denver Post : Denver, northern Front Range real estate party
ends in late 2019, new forecast predicts
Denver Business Journal [Video] : Battles are fierce for bidding
homebuyers in metro Denver
Denver7 & TheDenverChannel.com : Thieves breaking into Denver
homes are using real estate lockboxes to do so
5280 Magazine : Denver’s 2017 Real Estate Outlook
Denver Post : Denver area still lags in new home construction
Denver Business Journal : Metro Denver home inventory
shortages persist as prices continue to grow
Denver Post : Metro Denver home prices slightly down, condo
prices up in August: Rush on appraisals
Denver Real Estate Watch : Seasonal real estate peak
Denver Post : Home prices drop in metro Denver as
affordability becomes an issue
Denver Business Journal : Metro Denver home prices continue
strong gains
Denver Real Estate Watch : Record home price takes a breather
Worth
Magazine : Influx of millennials creating exciting investment
opportunities in Denver
Denver Post : Metro Denver sees a big jump in the inventory of
homes for sale in June
Denver7 & TheDenverChannel.com : Finding a home for sale is
hard to come by these days, but some have made it work
Denver Business Journal : Metro Denver home inventory up in
June, but prices climbed faster
Denver Post : Denver median home sold price nears $400,000
CBS4 News : Denver’s Housing Market Just Keeps Getting Tighter
CBS4 News [Video] : Denver’s Housing Market Just Keeps Getting
Tighter
Denver Post : Frustration rises as a fifth of Denver home sale
deals fall through in April
Denver Business Journal : Metro Denver housing inventory hits
record low for May
Denver Post : Inventory of homes for sale hits record low in
metro Denver
9News Denver [Video] : Low inventory leads to creative
home-buying tactics
Denverite : Do people move to Colorado for legal weed? Probably
not, but no one knows for sure
Denver Post : Denver home sale listings jump 33.6 percent over
record-low February
Denver Business Journal : Denver-area home prices continue to
climb; low-priced inventory scant
Denver Business Journal : $20 billion in metro Denver home sales
in 2015 and other records
Denver Business Journal : Denver home inventory continues climb
in November, but so do prices
Denver Business Journal : Colorado home prices up 12 percent,
but inventory up too
Denver Business Journal : Denver-area house prices up 11%, but
slowdown could be in sight
Denver Business Journal : Colorado's home-price pressure eases
with influx of new listings
Denver Business Journal : Is Denver's residential real estate
market cooling off?
Denver Business Journal : Torrid metro Denver home-price pace to
continue
Denver Business Journal : Passing $400K, average Denver-area
house sale prices hit all-time high
Denver Business Journal : Metro Denver home supply down 32% in
March from year ago
Denver Business Journal : Average home price in metro Denver
tops $390K
Denver Business Journal : Denver metro home sales created a $22
billion impact in 2014
Denver Business Journal : Denver area home buying continues
slowdown
Denver Business Journal : Residential real estate market
softened in Denver during August
Denver Business Journal : Metro Denver homebuying hits $1.9
billion in monthly sales
Denver Business Journal : Buying a metro Denver home? It will
cost you more than ever
Realty Today : Four Factors That Play Important Roles in
Denver's Real Estate Market in 2016
5280 Magazine : Issues That Will Impact the 2016 Real Estate
Market
MONEY Magazine : Buyers Guide: How to Beat the Competition in a
Hot Housing Market
Denver Business Journal : Anthony Rael, Denver Real Estate Agent
& DMAR Market Trends Chair
Colorado Springs Gazette : Colorado Springs' lower home prices
lure frustrated Denver buyers
Kiplinger Magazine : Money-Smart Tactics to Prosper in This Hot
Housing Market
Denver Business Journal : Anthony Rael, Denver Real Estate Agent
& DMAR Market Trends Chair
TIME-Money Magazine : The Letter That Saved $11,000. Really.
Builder and Developer Magazine : Denver’s Housing Market Just
Keeps Getting Tighter
MSN Money : Millennials shift to buying as rents surge
DenverPost.com : Anthony Rael, Denver Real Estate Agent & DMAR
Market Trends Chair
Glossary of Terms for Real Estate Stats
What is Median Sale Price?
What
are Active Listings?
What are
New Listings?
What
are Sold Listings?
What is Pending/Under
Contract?
What are Days on Market?
What is the Affordable
Housing Index?
What are Months Supply of
Listings?
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