In February, the Greater Denver
Metro housing market proved that the underlying theme of this market is
speed: speed at which buyers are purchasing relative to the number of
sellers listing, and the speed at which active properties are going
under contract while prices are accelerating. While many metrics still
show detached properties are in higher demand than attached, that gap
decreased in February. There were 3,641 closed properties, up 3.70
percent from last year at this time, and in part because attached
properties were on the rise. Attached properties saw a 16.29 percent
increase in closings relative to last year at this time. The increased
demand for attached properties propelled the market to an average close
price of $401,552. This is the first time the attached market has had an
average price above $400,000. Meanwhile, detached properties saw a 1.80
percent decrease in closed properties relative to last year.
The report additionally confirms that with median days in the MLS at
five, close-price-to-list-price ratio 101.90 percent, and months of
inventory at 0.55, competition remains incredibly high. With properties
frequently going over asking price, full appraisal gap waiver
appreciation continues to rise. Savviness, creativity, knowledge and
guts are all components that will help buyers move towards a path of
homeownership in this market.
The DMAR 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).
February showed no signs of slowing down in the Luxury Market with some
interesting trends at hand. Overall, numbers show an excellent month for
luxury real estate in Denver with an incredible 446 sold homes
year-to-date. That represents a 62.77 percent increase in sales overall
from February 2020.
Last month, the luxury detached market alone closed on 206 homes, a
10.75 percent increase in this category from last month and a 46.10
percent improvement from last year. More buyers are ready to purchase
property over $1 million than the market saw in 2020 and single-family
home sellers are enjoying a more crowded and hotter marketplace. While
less competitive than other market segments, it is still fierce with
February’s close-price-to-list-price ratio at 97.63 percent.
Conversely, an interesting trend appears in the attached market with the
number of closed residences down from 29 sales in January to 25 in
February. This was still more sales than in 2020, which was only 15
total for February. However, the attached market was also experiencing a
much longer time on the market; it is up 337.50 percent from the
previous month. In January, there was a median of eight days in the MLS,
and in February, it jumped to 35 days.
The good news for luxury attached homebuyers is that you have options.
Sellers should take their time to prepare the residence, and REALTORS®
need to market appropriately rather than rushing to get the property on
the market. It is essential to set the timeline of expectations for the
sellers and establish a showing schedule that will work with their
lifestyle.
Digging Deeper: February 2021 Records
February 2021 was yet another record-breaking month!
source: DMAR Market Trends
Committee
ACTIVE LISTINGS
* Residential: 2,024 represents the lowest inventory on
record. The previous low was January 2021 of 2,316.
* Detached: 1,120 represents the lowest inventory on record. The
previous low was January 2021 of 1,263.
CLOSE
PRICE — MEDIAN
* Residential: $475,000 represents a tie for the highest
amount on record. The previous record was in October 2020.
* Detached: $629,159 represents the highest amount on record. Previous
record was in Oct 2020 of $622,990.
* Attached: $337,250 represents the highest amount on record. The
previous record was October 2020 of $337,000.
CLOSE
PRICE — AVERAGE
* Residential: $553,774 represents the highest February on record. The
previous record was in 2019 of $463,642.
* Detached: $632,581 represents the highest amount on record. The
previous record was in January 2021 of $627,550.
* Attached: $401,552 represents the highest amount on record. The
previous record was in January 2021 of $396,677.
DAYS IN
MLS — MEDIAN
* Residential: 5 days represents a tie for the lowest number on record.
The previous low was set in 9 different times.
* Detached: 4 days represents the lowest number on record. The previous
low was set 6 different times.
DAYS IN
MLS — AVERAGE
* Residential: 23 days represents the lowest February on record. The
previous low was in 2018 of 32 days.
* Detached: 19 days represents the lowest February on record. The
previous low was in 2018 of 34 days.
CLOSINGS
* Residential: 3,641 represents the highest February on record. The
previous high was set in 2020 with 3,511 Closings.
* Attached: 1,241 represents the highest February on record. The
previous high was set in 2018 & 2020 with 1,068 Closings
MONTHS
OF INVENTORY (MOI)
* Residential: 0.56 months represents the lowest February on record. The
previous record low was in 2017 with 1.19 months.
* Detached: 0.47 months represents the lowest February on record. The
previous record was in 2018 with 1.28 months.
* Attached: 0.73 months represents the lowest February on record. The
previous record was in 2016 with 0.82 months.
PENDING
* Attached: 1,520 pending transactions represent the highest February on
record. The previous high was in 2017 of 1,457.
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
July 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
June 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 Report
August 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
July 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
June 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
May 2019 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
March 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
February 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
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
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
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
