February Market Report - Metro Denver
Last Month's Key Statistics
for Denver's Real estate Market
Attached & Detached Single Family Homes
THE AVERAGE SALES PRICE OF $687,539 IN JANUARY ROSE 0.6% FROM LAST MONTH AND ROSE 5% FROM LAST YEAR.
Quick Stats:
- The average number of active listings for January is 12,032 (1985-2024).
- The record-high for January was set in 2008 with 24,550 listings, while the record-low was set in 2022 with 1,184 listings.
- Historically, active listings decline from December to January by an average of 3.9 percent. An increase of 11.6 percent this January reflects the strong increase in new listings and a record-high percentage change.
“Skate to where the puck is going to be, not where it has been.”
This famous Wayne Gretzky quote is going to be the focus of this market update. I'm not going to reference where we've been, but highlight some key statistics that could give insight to where we're going in 2025.
Denver metro is now up to 3.4 months of housing supply! This is because active listings are up 58% year-over-year. This represents a significant jump, and ultimately is a result of buyers not buying up the existing and newly-listed inventory.
Detached homes are performing much better than attached homes. Detached homes under $1M have 3 or less months of inventory, while all attached price points have at least 4.5 months of inventory, including the $1M-$1.5M price point that has a whopping 19 months of inventory!
So, at present, 2025 does not look promising for attached units, while detached homes will do better based on today's ratios.
Keep in mind that we are still early in the year. February is a critical month to see how many buyers who've been shopping might snatch up some inventory at better pricing. Also keep in mind that some neighborhoods are performing much better than others.
As always, don't hesitate to reach out for more specific data for your specific needs!
Best,
The Florence Realty Team.
