Denver real estate market statistics: How much does a home cost in Denver? How long does it take to sell a home in Denver? How fast are home prices rising in Denver? All this and more answered below.
Denver Real Estate Market Statistics December 2019 Year End
These Denver Real Estate Market Statistics are based on homes in the REColorado.com MLS within 30 miles of downtown Denver. Download a pdf version of "Denver Realtor Reviews: Denver Real Estate Market Statistics December 2019" by clicking here.
The average price for a home in Denver was $482,163 at the end of December 2019. The median price for a home in Denver was $415,000 at the end of December 2019. There were 4,449 homes sold in December 2019. There were 2,543 new real estate listings in and around Denver during December 2019. There was 1.229 months of real estate inventory in and around Denver at the end of December 2019. The median days on market for real estate listings in and around Denver was 24 days for December 2019.
These Denver real estate market statistics are from the Denver MLS (REColorado.com) . They reflect real estate sales data for the end of November 2019. They do not reflect real estate sales that occurred off market or outside of the Denver MLS.
The average home price in Metro Denver, Colorado
The average home price in Metro Denver is up just over 4.9% Year Over Year from $456,488 in December 2018 to $482,163 in December 2019. The average home price in Metro Denver is down 0.7% Month Over Month from $485,594 in November 2019.
The median home price in Metro Denver, Colorado
The median home price in Metro Denver is up just over 4% Year Over Year from $399,000 in December 2018 to $415,000 in December 2019. The median home price in Metro Denver is down almost 1% month over month compared to the median home price in November 2019 of $19,000.
Number of Metro Denver real estate sales
There were 4,449 metro Denver real estate sales in December 2019, about 18.8% more than the 3,744 real estate sales in December 2018 and about 5.1% more than the 4,234 metro Denver real estate sales in the prior month. For December 2019, the highest number of sales occurred in the $350,000 - $400,000 price point.
Number of new Metro Denver real estate listings
There were 2,543 new Denver real estate listings in December 2019, which is about 11.3% more than the 2,284 new listings in December 2018 and about 43% less than the 3,648 new listings in November 2019. The highest number of new listings was in the $400,000 - $450,000 price range.
Months of Metro Denver real estate inventory
There was an average of 1.229 months of inventory on the market in December 2019. Many people say that a perfect market equilibrium is 3 months of inventory. In simple terms the market above 1.5 million qualifies as a buyers market and the market below 1.5 million qualifies as a sellers market.
Median days on market for a Metro Denver, Colorado home for sale
At 24 days, the median days on market is equal to December 2018 and 5 days more than November 2019. The median days on market goes up significantly as the price point rises above $500,000 and is less under $450,000.
Denver Realtor Reviews: Denver Real Estate Market Statistics December 2019 Conclusion
The real estate market within a 30 mile radius of Denver Colorado ended the year strongly in seller's favor, but the lack of affordability and inventory have significantly lessened buyer demand. Bidding wars are less frequent. Homes that are not move-in ready or have significantly undesirable features are selling more slowly than they had, as more desirable homes are available on the market longer. Sellers are being forced to price their homes more competitively to sell quickly and put more effort into preparing their home for sale.