- % Of Units Under Contract: (larger markets – Boulder/Denver)
- Single Family Homes: Boulder’s single family home market activity has picked up since last month in almost all price ranges. Denver’s % under contract has increased for homes under $750K, and has decreased for homes above $750K.
- Attached dwellings (condo/townhome): The % of attached dwellings under contract is the same as last month and similar to 2015..
- Current Inventory: As expected at year end, the inventory of available single family homes and attached dwellings is at the lowest point of the year (as expected). Inventory is expected to increase by mid-January.
- Units Sold: The number of units sold for single family homes and attached dwellings surprisingly is very similar to both last month as well as the same time last year.
- Days to Offer: The “Days to Offer” has decreased slightly in most single family home sub-markets, except for Boulder, Louisville and Erie, where the days to offer has increased slightly. The “Days to Offer” for attached dwelling has increased for Boulder as well as all sub markets.
- Appreciation: (12 months, all markets)
- Single Family Homes: 11.22% (last month = 53%)
- Attached Dwellings: 92% (last month = 23.23%)
- Market Talking Points:
- Denver Metro Area Market Summary: The Denver Metro area 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 Real Estate: The days on market has increased from 22 to 24 days.
- The average and median year end appreciation for all residential properties in Denver is 9%.
- The sold price to list price is 100.2% YTD, however, this % has been trending downward over the last few months and is now at 99.4%
- Year End Market Summary: The 2016 real estate market ended up very similar to 2015. There was high buyer demand, an overall lack of inventory and as a result strong price appreciation. The Boulder and surrounding community Single Family Home market appreciated an average of 11.22%. The attached dwelling market performed even better with year-end appreciation at an average of 20.92%. Denver experienced an average appreciation of 9%.
A couple interesting points for 2016:
- Unlike the rest of the front range market that picked up in 2012, the “close-in” mountain community was slower to recover. However, in 2016 the “close in” mountain real estate market is once again a hot commodity.
- In 2016 the “high-end” (2 million+) Boulder market has a firmly established itself as a segment of the market that has been in continual high demand.
- Although the attached dwelling market experienced incredible appreciation in 2016, the attached dwelling segment of the market is beginning to show signs of slowing in 2017 with increased time on market to receive and accept offers.
- The more affordable segments of every community are in the highest demand, and all are currently experiencing a Seller’s market. The upper price ranges are experiencing more balanced market.