Homie’s Denver Housing Market Update January 2021

With the start of a new year, we can’t help but look forward to watching how the market changes throughout 2021. So how did the Denver market start out the new year? We’ve got your update!

Data from ReColorado from January 1, 2021 to January 31, 2021.

Monthly Sales

It’s common for the volume of sales to shrink during the month of January, and this year has been no different. With a 38% decrease from December, January monthly sales landed at 3,164. This is a 6% decrease from January of the previous year.

Graph of Monthly Sales

Data retrieved from ReColorado.

New Listings

New listings also experienced a year-over-year decrease, landing at 4,285. While this is a 12% decrease from the previous year, it’s a 29.6% increase from the previous month.

Graph of List Prices

Data retrieved from ReColorado.

Sale Price

In contrast to new listings and monthly sales, sale prices saw a significant year-over-year increase. The average sale price for a Denver home in January was $550,165, a 16% increase from this time last year.

Sales Price

Data retrieved from ReColorado.

Days on Market (DOM)

Even though there were fewer sales in January than there were last January, those sales are happening at much faster speeds. The average number of days spent on the market for a Denver area home in January was 26, which is a 19-day decrease from last January.

Graph of Days on Market

Data retrieved from ReColorado.

Turn to a Homie

Whether you’re ready to buy or sell, Homie has experienced, local real estate agents who are ready to find you what you’re looking for. These agents understand all the ins and outs of the Denver market, and they’ll lend you their expertise while you buy or sell your home. Click to start selling or buying and to get in touch with your dedicated agent.

Learn more about Colorado Real Estate

How to Buy a Home in Denver
How to Sell a Home in Colorado
5 Tips to Help You Afford Your First Home

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Source: homie.com