The average sold price in January 2018 rose 11.84% percent from the average price in January 2017. Sold listings dropped by a dramatic 36.22 percent from last month. See below for our full report for January 2018 and please let us know if you have any questions. We email this market infographic report on the Denver Real Estate Market out each month. To get on that email list, please reach out to marketing@usajrealtystg.wpenginepowered.com and request to be added!
Key Takeaways for January 2018 via DMAR for Metro Denver:
- Active Inventory was up 0.3% compared to last month and was 3.01% lower from January 2017
- January 2018 Active Listings: 3,869
- December 2017 Active Listings: 3,854
- November 2017 Active Listing: 5,131
- October 2017 Active Listing: 6,312
- September 2017 Active Listings: 7,586
- August 2017 Active Listings: 7,360
- Median Sales Price for a condo in Metro Denver in January 2018 was $285,000
- Same as December 2017 at: $285,000
- Up from November 2017: $272,000
- Down from October 2017: $275,000
- Up from September 2017: $268,000
- Down from August’s $275,000
- And up from July’s $270,100
- Median Sales Price a single-family residence in Metro Denver in January 2018 was: $416,000
- Up from December 2017: $415,000
- Up from November 2017: $405,000
- Down from October 2017: $415,000
- Down from September 2017: $409,000
- Down just slightly from August’s 2017: $410,000
- And down from July’s $420,000
An Overview of the National Market:
- The new tax law includes two major changes for home buyers: Changes to the mortgage interest deduction and new limits on deducting state and local income and property taxes. – Builder, Everything You Need to Know about the New Tax Law
- “Over the past 10 years, the rental population increased dramatically, even outpacing homeownership growth in the majority of the top U.S. markets” – HousingWire, Renters take over nearly 25% of major U.S. cities
- “The Federal Reserve will make subtle, hawkish, changes to its statement Wednesday to confirm what the market now expects: a rate hike is coming in March.” – MarketWatch, Fed to take a step toward a March interest-rate hike
- “The nation’s housing market for 2018 continues to look good, according to two recently released reports. But first-time millennial buyers will continue to struggle with affordability, especially in highpriced areas like Los Angeles, San Francisco, Boston, New York and Washington DC.” – Forbes, 2018’s Housing Market Looks Good Unless You’re A First-Time Millennial Buyer
What’s Happening in Denver:
- “In January, homes under contract were almost the same number as new listings. This means that as fast as listings come on the market, they are placed under contract.” – DMAR
- “The most active price segment for the single-family market continues to be $300,000 to $399,999, and $200,000 to $299,999 for condos.” – DMAR
- “More than a decade after the Great Recession swept through Colorado and decimated an overbuilt real estate market, metro Denver is now experiencing the other extreme: a chronic tight supply of housing that is sending home prices and apartment rents skyward.” – Denver Post, Denver’s chronic housing shortage may peak this year with deficit of 32,000 homes and apartments
- “In Denver, the number of renters rose from 226,832 (40.8 percent) in 2006 to 320,149 (47.1 percent) in 2016. At the same time, the number of homeowners rose from 329,162 (59.2 percent) to 359,158 (52.9 percent).” – Denver Channel, Renters now nearly outnumber homeowners in Denver; Colorado Springs also sees big increase
Report for Metro Denver:
And as always, please let us know if you have any questions!
