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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.

DMARSTATS : Denver Real Estate Market Report & Statistics : Denver Metro Association of REALTORS
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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.

DOWNLOAD 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

  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
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  December 2017 - Denver Real Estate Market Trends Report
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  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
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  July 2015 - Denver Real Estate Market Statistics & Trends Report
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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

Find Your Dream Home with REMAX in Colorado : Denver Colorado Homes For Sale : Denver MLS Property Listings : #JustCallAnts : SearchHomesInDenver.com : Anthony Rael REMAX 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:

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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