Realtor.com predicted Denver would be one of the top 10 U.S. housing markets for 2021. We’ve been keeping an eye out to see if this prediction proves to be true. So far, so good! Here’s how the Denver area housing market performed in February:
Data from ReColorado from February 1, 2021 to February 28, 2021.
Despite February being the shortest month of the year, monthly sales in the Denver area were +22% higher than sales in the previous month, landing at 3,878. This number is virtually unchanged from the same month last year.
Following a nationwide trend of decreasing inventory, February had 4,558 new listings, which is an -11% drop from February of 2020. It is, however, slightly higher than the 4,295 new listings we saw in January of this year.
Sales prices continue to rise for Colorado homes. The average closing price in February was $553,231, a +14% year-over-year increase. This is similarly, an increase from January, although a very slight one.
Days on Market (DOM)
The market is speeding up. Denver area homes spent an average of 24 days on the market during February, which is a 14-day decrease from the same time last year and a two2-day decrease from the previous month.
Turn to a Homie
Are you ready to jump into the market as a buyer or seller? Homie’s experienced local real estate agents can help you have the best experience possible throughout the entire process. These agents know how to put together that perfect offer to help you get your dream house if you’re a buyer and, they know how to make sure you get the offer you’re looking for if you’re a seller. Click to start selling or buying and get in touch with your dedicated agent.
Learn more about Denver real estate!
How to Sell a Home in Colorado
What to Look for in a Turnkey Property in CO