In December, the Greater Denver
Metro housing market continued to showcase the consistent buyer
resiliency to pursue home-ownership. For the first time in Denver’s
history, there were over 62,985 homes purchased throughout the year,
6.95 percent more than 2019.
December presented another historically low month of inventory with
2,541 active listings on the market: the first time ever Denver has seen
under 3,000 listings. High appreciation along with historic sales volume
created another historic number of $33.1 billion dollars of residential
real estate sold in 2020. Median attached properties appreciated at 7.11
percent year-over-year while detached properties appreciated at 12.93
percent.
Detached properties continue to be most desired with a limited inventory
at 0.4. For single-family detached properties, Denver ended the year
with 39.17 percent less inventory than December 2019 with only 1,316
houses on the market. In comparison, there were 1,255 attached
properties at the end of December, down 26.95 percent from the previous
year.
“On first glance the current Denver metro real estate data can feel
staggering for potential buyers,” said Lawrence Yun, Chief Economic and
Senior Vice President of Research at the National Association of
REALTORS®. “However, the current ultra-low mortgage rates are helping
buyers to accomplish their American Dream, which means the Denver area
is actually still more affordable now than a year earlier even though
home prices rose 14 percent. The 30-year fixed rate, which has dropped
more than one percentage point over the past 12 months, is hovering into
record lows. These low mortgage rates decrease borrowing costs
significantly.”
The DMAR monthly 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 December 2020, new listings for the Luxury Market were up 14.65
percent compared to 2019, with pending sales climbing to 36.50 percent,
and closed sales reaching 34.74 percent.
The detached Luxury market experienced the largest growth with every
metric experiencing growth for the year except for days in MLS, which
showed a decline as properties sold in record time and proved that
buyers favored more open and flexible space for a work-life balance. New
listings rose in December to over 59.34 percent with 145 listings, up
from 91 this time last year.
The attached market, however, had a different outcome this past year
with new listings growing slightly year-over-year from 473 in 2019 to
517 in 2020 reflecting a 9.3 percent growth. However, last month this
number saw a considerable drop-off down 63.83 percent with 17 listings
down from 47 this time last year. The rest of the numbers are slightly
lower as well as buyers opted for more space and privacy.
Meanwhile, the Classic Market once again clocked in as arguably the most
competitive market with the average days in MLS at 20 days, 23.08
percent lower than 2019, and median days in MLS at only six days, 45.45
percent lower than 2019. 31,913 new residential listings hit the market
in 2020, which is 2,255 fewer and 6.60 percent less than the 34,168 that
came available in 2019. The Premier Market also unsurprisingly came out
stronger in 2020, with the average close price in 2020 at $547,461, up
13.47 percent from $482,487 year-over-year, making the market a firm
seller's market.
Digging Deeper: December 2020 Records
December was a record-breaking month in several categories!
source: DMAR Market Trends
Committee
ACTIVE LISTINGS
* Residential: 2,541 represents the lowest inventory on
record. The previous low was December 2017 of 3,854.
* Detached: 1,316 represents the lowest inventory on record. The
previous low was November 2020 of 1,755.
CLOSE
PRICE — MEDIAN
* Residential: $460,000 represents the highest December
on record. The previous record was in 2019 of $417,000.
* Detached: $507,000 represents the highest December on record. The
previous record was in 2019 of $488,950.
* Attached: $332,000 represents the highest December on record. The
previous record was in 2019 of $309,950.
CLOSE
PRICE — AVERAGE
* Residential: $547,461 represents the highest December on record. The
previous record was in 2019 of $483,208.
* Detached: $616,895 represents the highest December on record. The
previous record was in 2019 of $527,003.
* Attached: $391,375 represents the highest amount on record. The
previous record was in October 2020 of $391,259.
DAYS IN
MLS — MEDIAN
* Residential: 7 days represents the lowest December on record. The
previous low was in 2015 and 2016 of 14 days.
* Detached: 5 days represents a tie of the lowest number on record. We
have seen 5 days 5 time before.
DAYS IN
MLS — AVERAGE
* Residential: 23 days represents the lowest December on record. The
previous low was in 2015 and 2016 of 32 days.
* Detached: 20 days represents the lowest December on record. The
previous low was in 2015 of 34 days.
CLOSED
* Residential: 4,807 closed transactions represent the highest December
on record. The previous high was in 2019 of 4,582.
* Detached: 3,327 closed transactions represent the highest December on
record. The previous high was in 2015 of 3,267.
* Attached: 1,480 closed transactions represent the highest December on
record. The previous high was in 2015 of 1,353.
MONTHS
OF INVENTORY (MOI)
* Residential: 0.53 months represents the lowest number on record. The
previous record low was in November 2020 of 0.71
* Detached: 0.40 months represents the lowest amount on record. The
previous record was in November 2020 of 0.52
* Attached: 0.83 months represents the lowest amount on record. The
previous record was in March & November 2016 of 0.95
PENDING
* Residential: 3,625 pending transactions represent the highest December
on record. The previous high was in 2018 of 3,577.
* Attached: 1,230 pending transactions represent the highest December on
record. The previous high was in 2018 of 2,602.
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
April 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
February 2021 - Denver Colorado Real Estate Market Statistics & Trends Report
January 2021 - Denver Colorado Real Estate Market Statistics & Trends Report
December 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
November 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
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
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May 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2020 -
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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 Report
August 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
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December 2018 - Denver Colorado Real Estate Market Statistics & Trends
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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
July 2018 - 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
October 2017 - Denver Real Estate Market Trends Report
September 2017 - Denver Real Estate Market Trends Report
June 2017 - Denver Real Estate Market Trends Report
May 2017 - 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
July 2016 - 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
September 2015 - Denver Real Estate Market Statistics & Trends Report
August 2015 - Denver Real Estate Market Statistics & Trends Report
July 2015 - Denver Real Estate Market Statistics & Trends Report
June 2015 - Denver Real Estate Market Statistics & Trends Report
May 2015 - Denver Real Estate Market Statistics & Trends Report
April 2015 - Denver Real Estate Market Statistics & Trends Report
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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
