The Denver real estate market continues to be a positive environment for home sellers. In December, prices for detached, single-family homes were up 0.3% from the month prior and 16.2% year-over-year. While there were 1,699 active listings in November, that dropped by 39.1% in December to just 1,034 homes for sale and nearly a third of these listings were under contract in just 7 days or less and 70.6% sold for at/over asking.
Despite the pandemic shutdown, real estate in Denver and Boulder was extremely active in 2020. Prices and competition were up while inventory and interest rates were down. Our PorchLight agents provided the highest level of service to both buyers and sellers alike, helping them achieve their real estate goals.
In the city of Boulder, sales continue to be strong with 1,575 single-family, detached homes sold thus far in 2020. That's up 15.6% over 2019 at this point in the year, indicating that Boulder is a highly desirable place to call home. However, inventory is down 52.2% year-over-year, which has led to a decline in days to contract (39 for the month) and increased competition for available home inventory.
In Denver real estate, the market continues to be all about inventory—or the lack of it, to be more accurate. In November, the number of homes on the market dropped again by 12.7% compared to October, with just 1,699 single-family, detached homes available for sale.
The Boulder real estate market remains active and strong. Buyer demand continues to significantly outpace supply which is down 44.9% over October 2019. Average days to contract was just 46, and the average sales price was up nearly $150k over the previous month.
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