With the first month of the New Year under our belt, we’ve noticed a slight uptick in the active inventory. Yet we’re still tightening our belts compared to the averages we’ve grown used to. January saw a burst in demand—pending transactions went up, signaling buyer eagerness, though we saw fewer homes actually crossing the finish line with a closed deal. Prices seemed to find their comfort zone, with the average holding firm and the median hitting a growth spurt from last month.
“The era of multiple-offer madness has simmered down from its feverish peak, but still about 20% of homes sold have buyers toasting to a price over the asking. And, with buyers finding clever ways (like concessions) to snag lower interest rates, it’s clear the market’s creativity is alive and well.“ – Jenny Usaj, Broker Owner of Usaj Realty
At Usaj Realty, we don’t believe in our buyers going in blind. Look over January’s Denver Housing Market statistics below, to keep yourself in the know.
Home Prices Up 5.43% Percent From Last Year
- In January 2024, the average residence sold for $660,127
- The average single-family home sold for $734,836
- Whereas the average attached home sold for $467,423
January Interest Rates Update
The Bottom Line
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 4,871 attached and detached homes available in the entire Denver Metro area. This shows a pretty significant increase in available properties, as the numbers are up by 18.23% from January 2023. Meanwhile, affordability remains in the same range we’ve been seeing in the Denver Metro area. The median sales price is $565,000 this month. Whereas last month, the median sales price was $10,000 lower, at $550,000. But $30,000 higher than January 2023, which was at the lower price of $539,250.
There are 4,871 new homes hitting the market this season, showing a slight dip from the 4,120 on the market this time last year. Which, subsequently, is impacting the “days on market”, which is up only 2.04%.
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
The January 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 January Denver Market Stats and the Denver housing market to come.
