Denver Metro Market Minute December 2020

Denver Metro Market Minute December 2020

Video Transcript:

Happy new year!
It’s time for your Denver Metro market metrics in a minute. Hi, I’m Jennifer Prestwich, the Prestwich group at Madison & Company Properties, here to give you the run down on what been going on in our Metro market for December.
The number of listings sold was 5,193. Home sales are continuing to trend downward.
The interesting thing about this, is that while December went down compared to November, it is up from December of 2019. What this tells us, is that we are are seeing an unusually active winter market.
What’s more, we ended the year with only 2,237 active listings. That’s a 10 year low.
The Median list price was 435,000. This is up by about 5,000 over November and up significantly over this time in 2019. To the tune of about 17,000 dollars.
Average days on market was 29 days. That’s up a bit compared to November’s number of 25 days on market. But it is 15 fewer days on market than December of 2019.
The Median sales price was 452,080 dollars. This number is down about 5,000 dollars compared to November. But it’s up about 39,000 dollars over December of 2019.
So what’s my forecast 2021?
What a wild time to be in the real estate market. Inventory is staggeringly low. And mortgage interest rates and still well below 3%. Buyers are heading to Colorado in packs. Due in large part to lower taxes, employment opportunities and let’s face it. Our weather is wonderful and our scenery is stunning. People wanna be part of the Colorado life style. I’m Jennifer Prestwich, the Prestwich group at Madison & Company Properties.
I’m living the Denburbs life and I wanna help you do it too.

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