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Front Range Real Estate Market Report, 2/7/2022

January numbers are out and it’s clear that competition among buyers is strong. Offers that get accepted tend to all have the highest price, inspection waivers, and appraisal gap coverage. Many sellers are also looking for free post-closing occupancy, where they rent back the home for up to two months. Homes are selling for 10 or even 20 percent over the asking price. Outside of Colorado, inventory is also low, so our sellers who are moving out of state are facing stiff competition where they’re moving. In this market, buyers must bring their “A-Game” to every offer.

January Numbers

Since 1985, the average number of active listings in the metro area in January has been 12,732. Last month was our record low January, with 1,184 listings. Our record high was in 2008 when there were 24,550.

Active listings at the end of the month: 1,184
-19.84% from December, -48.88% year-over-year

Closed homes: 2,847
-40.08% from December, -11.8% year-over-year

Close Price – Average: $609,132
-2.73% from December, +11.2% year-over-year

Close Price – Median: $540,000
-0.92% from December, +18.68% year-over-year

Average Days in MLS: 20
+11.11% from December, -25.93% year-over-year

Metro Denver Real Estate Market Activity

[one-half-first]During the last week:
New Listings – 734
Back On Market – 99
Price Increase – 202
Price Decrease – 118
Pending – 1292
Withdrawn – 55
Closed – 1014
Expired – 134[/one-half-first][one-half]Previous Week:
New Listings – 615
Back On Market – 106
Price Increase – 170
Price Decrease – 132
Pending – 1225
Withdrawn – 59
Closed – 802
Expired – 81

Based on data from REColorado®[/one-half]


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Ready to make your move? Give us a call. We’ll help you get started. Reach David and Tom at 720-782-2468.