Denver Housing Market: November 2021

by | Nov 5, 2021 | Uncategorized

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Typically, the real estate market experiences a lull as colder weather sets in and many look forward to being home for the holidays. We didn’t experience this cool down last year, as COVID-19 set in and disrupted the real estate market’s usual seasonal trends. So, as home sales have decreased across many markets, this is the first typical fall market we have seen in two years. 

While there are fewer homebuyers this time of year, there aren’t many active listings to choose from either, thus competition remains high. It’s safe to say this seller’s market is here to stay through the new year. However, many markets are seeing homes sell for list price, rather than thousands over it. 

This fall, home prices have continued to increase in the single digits. This is a welcome change from double digit increases earlier this year. It’s important for sellers to consider their list price carefully to avoid a price decrease once on the market. But, by considering older listings, struggling home buyers can have more options to choose from. 

All stats below are based on End of Month in September vs October:

Denver Housing Market

Supply and Demand: In October there were 4 weeks worth of housing inventory available, the same amount we saw in September. 
Median days on the market – In October houses spent an average of 5 days on the market, an decrease of 38% from 8 days in September
New homes on the market –  In October there were 5,137 new homes on the market, a 13% decrease from the 5,917 new homes we saw in September. 
Homes sold – In October, 5,057 homes sold, a slight decrease from September’s 5,144 homes sold.

View current market data

The Denver real estate market remains very competitive as supply is strongly outpaced by demand. However, in recent months homes are selling for list price, rather than thousands over it. With that, home values continue to increase, but in the single rather than double digits as the first half of 2021 experienced. Overall, home values have reached a median of $530,000, an increase of 15.2% in 2021.

Seller Suggestions 

As we approach fall and the weather cools across the country, the real estate market shows signs of cooling iFall has offered some consistency in the real estate market for buyers and sellers. While new listings have decreased in most areas, days on market and supply have remained steady. October continued to see a strong sellers market, but fewer homes are seeing bidding wars. With that, fewer homes are selling for over list price. However, home values have increased dramatically across the country in 2021, and will likely continue to do so through the end of the year. Keep this in mind as you work with a real estate agent to price your home. Consider a comparative market analysis from an agent you trust to start the selling process.

Here are a few blogs that might help you as a seller:

Buyer Suggestions 

Fall has brought with it cooler temperatures and some favorable trends for home buyers. While inventory has While the enthusiasm of buyers who’ve been in the market for months may be fading, there are still eager, new buyers entering the market. The number of new listings has decreased in most markets, as sellers typically opt not to move during the colder months. Thus, there is increased competition over the remaining buyers in the market for a new home. In some areas, October saw ten to fifteen showings per active listing. As 2021 as shown so far, it’s incredibly important to be prepared with financing, and act quickly once you find a home that meets your criteria. 

Here are a few blogs that might help you as a buyer: 

Please note, if you buy with us, we split our buyer’s agent commission with you and give you back up to $6,000, and if you sell And remember, sell with Trelora and get best in class customer service from a team of experts. Plus, if you sell with us, we give you comprehensive, expert service for a low flat fee. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Phoenix, Raleigh, Sacramento Seattle and Tucson. In the meantime, please stay healthy and safe.

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The information contained in this blog is for general information purposes only, and while believed to be accurate, Trelora assumes no legal responsibility for accuracy. Information provided within should not relied upon as legal advice. Please consult with your local advisors for independent information regarding availability and applicability in your market.