January Market Update

by CENTURY 21 Altitude Real Estate

January '23

MARKET UPDATE

Sourced from DMAR

The Denver Metro housing market is changing. The question on everyone's mind is how long this change will last and what to expect next year.

Most of the answers are tied directly to when we will see relief from increasing mortgage rates that have more than doubled since January.

Detached active listings at month end dropped to 4,572, a 16.02 percent decrease from last month, while attached homes dropped 8.94 percent to 1,681. This is a 216.62 increase year-over-year for detached homes

and a 109 08 increase year-over-year for attached homes. While our inventory has increased from last year, we are still witnessing the typical end-of-the-year inventory decrease,

which is a direct result of homeowners choosing to either wait to list their homes until the New Year or remove their properties ahead of the holiday season opting to decorate and celebrate their last holiday season in their current homes

QUICK DENVER METRO STATS

Active listings at months end: 6,253
Closed Homes: 2,877
Average Close Price: $657,610
Days in MLS on average: 34

THE DOUGLAS COUNTY MARKET

A yearly comparison for Douglas County:

Single Family Homes
Active Listings 2021 2022
  468 839
New Listings 2021 2022
449 305
Days on Market 2021 2022
  15 43
Average Price 2021 2022
  $767,345 $875,498