Denver Housing Market Report November 2021: What's Going On With Denver Real Estate Market Today?
The November 2021 Denver Metro real estate market report is OUT!
It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening if you are thinking of buying a home in Colorado this 2021 especially this Fall. Real estate market reports are only the beginning of the process of understanding the changes, opportunities, and challenges in the Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.
Denver Metro Housing Market Report
The November 2021 Denver Metro housing market report showed that in October real estate market statistics in Denver, there are some good aspects of the Denver real estate market to be thankful for despite experiencing a year of continued turbulence. We have seen ease in what has been an unpredictable real estate market throughout the year. Based on records on the activity of the Denver Metro housing market report, the majority of the statistics were seasonally consistent with what the Denver real estate market has seen in years past. It can also be seen that the prices of homes for sale in Denver have been staying consistent month-over-month making it great for buyers as they have a better opportunity of buying their dream home without having to deal with skyrocketing home prices.
The Denver Metro real estate market report for October 2021 showed that when lower numbers change in the month-end active inventory, they yield higher prices. On the last day of October, there were 3,376 homes for sale in Denver metro area which presented a 14.98% decrease from the previous month. October 2021 Denver real estate market also showed a decrease in average closed price compared to the previous month by 0.96%. There were 5,314 homes listed on the market which was 13.28% less than the previous month and 5,169 homes sold which was also 8.29% less than the previous month's real estate housing market report. Even though this month's report showed that the home buying and selling process has been hard, there are still many to be thankful for as there have been more homes purchased year-to-date than the previous years. It also reopened the door to the buyers that have maybe been a little demotivated from buying into going back to look again and as Denver prepares for the upcoming holiday season, it's usually normal to have gaps of buyer demand.
In the October 2021 Denver housing market report, there were 2,351 single-family detached active homes at month-end on the market which showed a 16.13% decrease compared to the previous month and an 11.05% decrease compared to last year. There were also 3,704 new homes listed on the market at month-end which also showed a 15.66% decrease compared to the previous month and a 12.31% decrease compared to the previous year. There were 3,645 single-family detached homes were sold in October 2021 which showed an 8.99% decrease compared to the previous month and also a 23.10% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down but only by just a bit with an average of 14 days of being live on the market compared to 13 days from the previous month.
In the attached market, attached single-family homes in Denver showed a 12.24% decrease in active homes at month-end at 1,025 compared to the previous month and a 52.94% decrease compared to the previous year. There were 1,610 new listings that showed a 7.26% decrease from the previous month and a 21.23% decrease compared to the previous year. There were 1,524 sold attached single-family homes in Denver also showed a 6.56% decrease from the previous month and a 14.53% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a tad bit with an average of 15 days of being live on the market compared to 14 days from the previous month.
Buying or Selling a Home in Colorado
If you are planning to sell your home in Colorado, now is the best time as there are fewer homes in the market and you can expect multiple offers. On the other hand, if you are planning to buy a home in Colorado, this season is perfect for you too as there isn't a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market. If you are looking for great homes for sale in Denver, we can help you.
Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's historic low-interest rates.
To download or see a copy of the full report, click here.