December 2017 Market Report

mikejgold Market Summary Leave a Comment

How is the greater Denver Metro Denver Area market doing? As a whole, single-family homes, townhouses, and condos, the market has seen supply levels start to increase (new listings) from last year just a bit at 2.2%, but, overall inventory is down 39%.  Demand has been steady with Pending and Sold listings up 11.5% but overall Sold down a touch at 1.9%. These factors have contributed to the increase in median and average sales prices at 9.9% and 11.20%.  Obliviously as you can see we are in a strong sellers’ market.  The average Days on Market Until Sale is at 36 and list to sales price ratio at 99.10% which is really just a sign of the time of year vs a trend.  With all this good news for sellers, buyers are on the other side of this coin with important concerns.  One of them being affordability currently sits at 100 for the metro areas Housing Affordability Index, which is not a sign as this number is trending in the wrong direction for future affordability.

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Total Market Overview Report Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics Dec-16 Dec-17 % Change YTD-2016 YTD-2017 % Change
New Listings 2,808 2,869 2.20% 71,212 76,006 6.70%
Pending / Under Contract 3,307 3,688 11.50% 61,789 66,607 7.80%
Sold Listings 4,985 4,891 -1.90% 61,592 66,098 7.30%
Median Sales Price $343,800 $378,000 9.90% $344,000 $371,000 7.80%
Average Sales Price $389,268 $432,976 11.20% $392,538 $425,616 8.40%
Percent of List Price Received 99.00% 99.10% 0.10% 100.00% 99.90% -0.10%
Days on Market Until Sale 35 36 2.90% 29 28 -3.40%
Housing Affordability Index 100 94 -6.00% 100 96 -4.00%
Inventory of Active Listings 9,066 6,304 -30.50%
Months Supply of Inventory 1.8 1.1 -38.90%
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