February 2024 | Denver Housing Market Update 🏡

Active listings shot up 89% month over month, and we saw a 12% increase year over year. Demand also increased substantially, 38% month over month. So we're starting to see listings, we're seeing sellers get off the sidelines and list their homes, and then we're seeing buyers pick those up quickly. So over asking price and multiple offer situations are coming back. Even though new listings increased 89%, active listings decreased over 14% month over month. and over 20% year over year. So the listings are coming on, but they're going under contract and the market is starting to heat up. The percent of close price to list price increased 0.3% to 98.5%. Now I think this continues to increase and we'll get closer to 100% as the market continues to heat up. Days on market increased to 48 days, which was an increase of 6.7% year over year. And I think this number starts to go down as the market heats up. because houses are gonna get under contract faster. This is Mike Rush, your Colorado real estate guide, bringing you a greater Denver area market update. I hope you have a great week. Thank you.