Denver Metro Housing Market Update
Market Update John Galloway January 12, 2024
Market Update John Galloway January 12, 2024
🏡 Denver Metro Housing Market Update | December 2023 📊
Welcome back to Toprock Real Estate! In this video, we break down the latest trends in the Denver Metro housing market for December 2023. Stay tuned to get insights into home buyer activity, closings, new listings, rental market, and more!
🔍 Key Statistics:
Year-over-year increase in home buyer activity, with pending listings up by 13% from last December.
Denver Metro home closings down by 5% from last year, marking the lowest December closings in over a decade.
Sellers brought 1,739 fresh home listings to the market in December, the lowest seen since last year.
Median closed price of Denver Metro homes ended the year at $550,000, less than 1% lower than last December and 3% lower than last month.
More than half of the homes closed in December had a sold price lower than the original list price.
🏠 Rental Market Highlights:
Rental activity in REcolorado MLS saw a year-over-year increase of 21%, with 381 new rental listings added in December.
Median leased price remained relatively unchanged, with condos and apartments fetching the highest monthly rent.
At the close of the month, there were 621 active rental properties available in REcolorado MLS.
📈 Market Dynamics:
Homes spent a median of 30 days on the market before a contract was executed, 2 days fewer than last year.
Average homes closed for 4.4% less than their original listing prices.
Standing inventory at the end of the month was 6% higher than last December, with 5,010 homes actively available for sale in the Denver Metro area.
Gross sales volume in December was 2% lower than December of last year.
🎥 Watch the full video for a detailed analysis of the Denver Metro housing market in December 2023! Don't forget to like, subscribe, and share your thoughts in the comments below. Happy home hunting! 🏡
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December 2023
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