December’s Market News and Usaj Review
December’s Market News wrapped up 2024 with noteworthy stability and resilience. December’s median close price for residential properties remained steady at $580,000, demonstrating a 0% change month-over-month. While active listings dropped by over 26%, and new listings fell nearly 33% compared to November. The market continued to exhibit strong buyer interest with 3,107 homes sold, contributing to a sales volume of $2.14 billion. With inventory levels tightening and the median days on the market extending to 40 days, the trends highlight a competitive market environment as we move into 2025.
Listing Prices are up 6.42% Percent from Last Year
- In December 2024, the average residence sold for $687,572
- The average single-family home sold for $765,060
- Whereas the average attached home sold for $446,591
December Interest Rates Update
Inventory and Affordability Over The Years
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 6,888 attached and detached homes available in the entire Denver Metro area. Pushing a 26% decrease from last month in available properties; whereas the numbers are up by 38.56% from December 2023.
Meanwhile, affordability remains in the same range we’ve been seeing over the last year. The median sales price is $580,000 this past month, a 5.45% increase from 2023. Ironically, November 2024 had the steady median price of $580,000.
As the snow starts to fall, there is a slowing of new homes on the market. In the last month, 1,840 new homes hitting the market, a near 1,000 home drop from last month. Showing a consistent amount of new listings from this time in 2023 at 1,729. The average days on market Denver Metro area is experiencing at a 21.74% increase from last month, showing a steady timeline for the lifecycle of a home on the market still climbing month to month.
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.
Quick Stats
This graph provides an overview of active listings, market highs and lows, and new listings. Compare this month’s data directly with previous record-breaking reports and stay informed with insights from realtors, local news, and mortgage updates.
Explore the highlights and see how the market is evolving. For personalized advice and further details, connect with Usaj Realty today.
What makes Usaj Realty stand out?
Founded in 2011, Usaj Realty has always taken pride in aligning our goals with those of our home sellers and buyers. We are dedicated to supporting you from the very beginning, ensuring financial stability and peace of mind throughout the entire process. We understand the importance of securing generational wealth for your future, and we believe we are uniquely qualified to help you achieve that.
Our outstanding agents are here to guide you through the current market trends. Reach out to us today to discuss the latest August Market Stats and to explore the thriving Denver housing market as the seasons change. At Usaj Realty, your goals are our goals.
