The real estate market is constantly changing, especially in the local Denver market. We like to keep an eye on it for you, so we can let you know what’s going on! Here’s the latest update:

Data from ReColorado from November 1, 2020 to November 30, 2020.

Monthly Sales

At 5,236, monthly sales are up 22% from this same time last year in the Denver metro area. While the sales are up from November 2019, they are 19% lower than sales in October. A decrease in monthly sales between October and November is fairly common.

monthly sales

Data retrieved from RE Colorado.

New Listings

November saw 3,695 new listings in Denver. This is a 1% increase from the previous November and a 40% decrease from October of this year, continuing the trend of a slow down as we move into the colder months.

New Listings

Data retrieved from RE Colorado.

Sale Price

The average sale price for homes in the Denver metro area in November was $547,094. This is a 13% increase from November 2019 and just a decrease of 2% from October of this year. Single-family homes are selling for higher prices than multi-family residences, such as townhomes and condos. The average sale price for a single-family home was $224,195 higher than multi-family residences.

sale price

Data retrieved from RE Colorado.

Days on Market (DOM)

The number of days on market continues to drop, with an average of 22 days and a median of six days during November. The average is a 13-day decrease from last November’s average and a 2-day decrease from this October, while the median is a 13-day decrease from last November and a 2-day decrease from this October.

Single-family residences spent an average of 6 days fewer on the market than multi-family residences.

Average Days on Market

Data retrieved from RE Colorado.

Turn to a Homie

Whether you’re looking to buy or sell, Homie has experienced, local real estate agents who are excited to work with you. These agents understand the nuances of the local real estate market and are willing to go the extra mile to get you the deal you’re looking for. Click to start selling or buying and to get in touch with your dedicated agent.

Get more tips on navigating the Colorado real estate market!

5 Tips to Help You Afford Your First Home
Common Home Buying Fears and How to Overcome Them
Can You Buy and Sell a Home at the Same Time?

Want to learn more about buying or selling? Sign up to get more info directly to your inbox!

What are you interested in?

The post Homie’s Denver Housing Market Update November 2020 appeared first on Homie Blog.

Source: homie.com

Homie’s Denver Housing Market Update November 2020
Tagged on: