As we ring in the new year, Denver’s real estate market is already making waves. According to Jenny Usaj, Managing Broker of Usaj Realty, there has been a surge in buyer activity due to low inventory, rising home prices, and historically low interest rates hovering around 6%. This combination has created a buzz in the market as buyers scramble to find their dream home in the mile-high city. While it may only be January, agents are already reporting multiple offers on homes in highly sought-after neighborhoods. If you’re looking to buy or sell a home in Denver this year, keep reading for some friendly and informative advice.
“With low inventory, rising home prices, and interest rates in the low 6% the market is buzzing with activity this January. Denver’s demand for housing is holding strong as the residential real estate market finds a new pace. While not 2021, we are already seeing more than one offer on homes for sale in the hot neighborhoods.” – Jenny Usaj, Managing Broker of Usaj Realty
Home Prices Up 3.32% Percent From Last Year
- In December 2023, the average residence sold for $657,229
- The average single-family home sold for $773,116
- Whereas the average attached home sold for $474,904
Weekly Averages Interest Rates Update
The Bottom Line
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 4,971 attached and detached homes available in the entire Denver Metro area. This shows an increase in available properties, as the numbers are up by 2.88% from December 2022. Meanwhile, affordability remains a serious issue for Denver homebuyers. The median sales price is $551,993 this month. Which is around midrange for the current market. Whereas last month, the median sales price was around $15,000 higher, at $567,875.
The Denver Real Estate Market is starting the year off with 4,971 active listings; bringing the available properties on market up 4.5% from the same time last year. Which, subsequently, is impacting “days on market”, which is up 6.98%. With this increase, now is the time to take advantage of a market that allows you to weigh your options and ensure you’re making the correct choice.
Unsure about how these stats impact you directly? Get a comprehensive market analysis of your particular neighborhood, and don’t miss out on utilizing a Usaj Realty expert as the numbers in each part of town vary greatly.
The December Denver Housing Market Quick Stats covers active listings, highs and lows, and new listings with direct comparisons to previous record breaking reports below:
Why choose Usaj Realty?
Founded in 2011, Usaj Realty takes pride making our home sellers and buyers goals, our own. We are with you from the beginning to create financial stability, and ease of mind from start to finish. We know the importance of securing generational wealth for the future, and we believe we’re the best fit for the job. Get in touch with our outstanding agents today to receive guidance on the December Denver Housing Market and the Denver housing market to come.