24 Mar Denver, CO Market Outlook for 2017
Denver Metro Area Market Summary: Denver Metro real estate is trending very similar to the same time last year (volume sold, number of listings, etc.)
Here are a few interesting Denver Metro area statistics:
Denver, CO Real Estate: The days on market has increased. In 2016 the average days on market was 26 days. 2017 year to date, this number has increased to 37 days.
Year End Market Summary: In many ways, 2017 is starting out to be very similar to 2016. The overall single-family home market is appreciating between 8.5% – 11%, and the condominium market is appreciating between 9% – 22% (depending on the sub-market). The more affordable price ranges are currently a “Seller’s Market”, and the upper price ranges are a “Buyer’s Market”.
A couple interesting points from 2016:
The inventory of single family homes and attached dwellings homes for sale is slightly higher than it was at the same time last year.
Although the attached dwelling market experienced incredible appreciation in 2016, the attached dwelling market “days to offer” has increased substantially in Boulder County as compared to the same time last year. The Denver attached dwelling “days to offer” remains the same as last year.
The mountain communities continue to be the most improved submarket in the metro area.
Although Denver’s upper-end market is performing stronger than this time last year, Boulder’s single family home market has slowed significantly over the last 2 months in the upper price ranges. However, Boulder upper end attached dwellings for sale have become significantly more active since last month.