Michael RushReal Estate Broker, Keller Williams Realty DTC · Real Estate Broker at Keller Williams Realty DTC

December's Greater Denver Area Market Update 🏡🎉

16 Jan 2024 · 1 min

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In this brief market update for the Greater Denver area, the presenter reports that single‑family home prices rose modestly by 0.2% to a median of $729,000, while townhome and condo prices slipped 0.4% to $465,000. Pending sales are down 0.2% year‑over‑year and sharply down 13% month‑over‑month, reflecting expected seasonal weakness. New listings have fallen 5.1% year‑over‑year as homeowners remain reluctant to sell amid high interest rates, though the presenter notes this dynamic could shift in the coming months.

Chapters

The price of single-family homes increased 0.2% to $729,000, and the price of townhomes and condos decreased 0.4% to $465,000. Now, pending sales were down 0.2% year over year, and they're down 13% month over month, which continues the seasonality that we expected. New listings are down 5.1% year over year, which is continuing the trend of homeowners staying put because of high interest rates. That could be changing in the months to come.