January 2019 Real Estate Market Report

mikejgold Market Summary , Real Estate Market Reports Leave a Comment


How is the greater Denver area market doing? As a whole (single-family homes, townhouses, and condos) the market has seen Supply take another massive increase with Active Listings up 43% from last year. Additionally, Demand or Sold listings have gone down 11% from last year and 30% from last month.  Support for future months is present with under contract numbers picking up with last months number up 32% and year to year up 9%.  This being said the reduction in demand in terms of sales and yet another very large increase in supply shows that the price change for Q1 will not, in my opinion, increase.  This opinion is also supported as this has been one of the lowest increase in the average sales price of 1.57% in years.

Mind you, chicken little is not clucking as we are still in a seller’s market with a 3.84 month supply of inventory (up 1.5 months), average days on market at 43 and list to sales price ratio of 98.5%.
However, smart sellers will ensure to price their homes correctly and have an agent like yours truly market the home effectively to ensure you are not caught with too much surprise. For buyers, you are gaining leverage so the need to offer up significant concessions is not needed and do let the negotiations being.

For the complete report, details click here!

Total Market Overview Report Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics January-19 Prior Month Year Ago Prior Month Year Ago
Active 4,027 3,892 2,824 3.47% 42.60%
New Listings 3,312 1,565 2,953 111.63% 12.16%
Under Contract 2,936 2,226 2,700 31.90% 8.74%
Days on Market – Average 43 42 37 2.38% 16.22%
Days on Market – Median 28 26 13 7.69% 115.38%
Sold 1,909 2,734 2,147 -30.18% -11.09%
Sold Price – Average $500,683 $505,320 $492,935 -0.92% 1.57%
Sold Price – Median $425,000 $430,000 $418,000 -1.16% 1.67%
Sales Volume $955,803,847 $1,381,544,880 $1,058,331,445 -30.82% -9.69%
Close Price/List Price 98.53% 98.56% 99.30% -0.03% -0.78%

For the individual areas within the North Metro Denver Area please see the links below.

Real estate market report Arvada January 2019

Real estate market report Boulder January 2019

Real estate market report Broomfield January 2019

Real estate market report Brighton January 2019

Real estate market report Erie January 2019

Real estate market report Lafayette January 2019

Real estate market report Longmont January 2019

Real estate market report Louisville January 2019

Real estate market report Firestone January 2019

Real estate market report Frederick January 2019

Real estate market report Superior January 2019

Real estate market report Thornton January 2019

Real estate market report Northglenn January 2019

Real estate market report Westminster January 2019

 

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mikejgold