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.