December 2017 Highlight Reel

Hard numbers on sales and contracts in the Greater Metro Area at the close of 2017

While in a typical market, December can be a slow month for buying and selling homes, we found the opposite to be true in the Denver Metro Area in December 2017. From November, home sales were down—18.6% for detached single-family homes, 13.1% for attached single-family homes; but even with the decreases, that accounts for 3,691 units for sale in Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson Counties at the end of 2017. Of those units for sale, 2,949 were placed under contract in about a month’s time (35 days for detached single-family homes; 31 attached single-family homes). 35.3% of detached single-family homes and 40.6% of attached single-family homes went under contract after seven or fewer days on the market! The average price for detached homes held flat at $477,523 and hit a record high for attached homes at $340,523. 41.3% of closed homes sold over their asking price

These figures, courtesy of Land Title Guarantee, show that, even with decreased market availability, values continue to hold. This is important information whether you are buying or selling, and something I can cover more in-depth with you as your agent.