by Calculated Risk on 2/09/2021 01:52:00 PM

From the DMAR: Monthly Indicators, January 2021

In January, the Greater Denver Metro housing market again broke an all-time record, a new inventory low with only 2,316 total properties on the market, translating into an inventory shortage and opportunity for appreciation to accelerate.

Single-family detached properties hit a record average price of $629,159, while attached properties hit a record of $397,792. Single-family home sellers saw a 101.03 percent close-to-list-price in January and a drop to five days in the MLS, down from six last month and 24 days last year. ...

“Interestingly enough, just because at the end of the month there are not many houses to choose from did not affect the amount of properties going under contract,” said Andrew Abrams, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “There were 4,459 pending properties in January, which is only a 1.09 percent decrease from last year at this time, and 2020 as a whole sang a similar note. There were more homes purchased throughout all of last year than any previous year, but at the end of every month towards the end of the year, there was not much inventory meaning the attrition rate was high.”

The number of residential units sold in January (attached and detached) decreased to 3,015, down 10.3% from 3,361 in January 2020.

Active listings were at 2,316, down 53.1 from 4,941 in January 2020. This is a record low.