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Front Range Real Estate Market Update, January 25, 2024

This morning, I looked at the last 482 homes sold in our area – about seven days’ worth of closings – to get a sense of pricing trends. When they went on the market, the median asking price was $565,000, and the median closed price was $540,000.

As we saw in last week’s update, sellers are still reducing their asking prices before homes sell.

The median closed price rose from $530,000 in February 2023 to a peak of $562,000 in June 2023, then declined to $524,900 in December and is now rising again.

Those 482 homes sold in the past seven days have sold at a higher median price than homes sold during most of this month.

We expect prices to continue to rise as we head into spring and summer. If rates come down by the end of the year, we may not see prices dip during the fall like last year.

MonthOriginal Price, MedianClose Price, Median
Jan 2024$539,000$530,000
Dec 2023$499,900$524,900
Nov 2023$524,900$535,000
Oct 2023$535,000$540,000
Sep 2023$550,000$549,000
Aug 2023$549,000$550,000
Jul 2023$550,000$560,000
Jun 2023$570,000$562,000
May 2023$565,000$555,000
Apr 2023$555,480$545,000
Mar 2023$560,000$539,630
Feb 2023$539,000$530,000