This is the link to the Form Lead version of this page:

Name *
Name
Email *
Phone *
Add a custom form here to override the default form.
This is the lead form override for "Blog".

Did the market rally or falter in December? And, how did 2018 compare to 2017? Let’s Take a Look!

December saw sales cool a bit, which can be typical through the holiday season.

Market Update_January_2019.001.jpeg

Surprisingly, the biggest difference we saw was between sales this past December and December of 2017 where 17% less homes sold.

Market Update_January_2019.002.jpeg

Overall, the year ended with sales 5% lower than in 2017.

Market Update_January_2019.003.jpeg

The number of homes that went from Active to Under Contract in December was up from last year…

Market Update_January_2019.004.jpeg

…but 14% less than November--again, showing that real estate activity slowed during the holidays.

The rate at which home prices are increasing is continuing to moderate. Believe it or not, however, this is a good thing for the market as a whole.

Market Update_January_2019.005.jpeg

In December, the average price of a single-family home inched up 1% month over month to nearly $464,000.

Market Update_January_2019.006.jpeg

As compared to 2017, prices ended 4% higher this year equating to several tens of thousands of dollars in equity for most homeowners.

Market Update_January_2019.007.jpeg

New listings of properties for sale saw a seasonal decrease in the greater Denver area--a 41% decrease from last month…

Market Update_January_2019.008.jpeg

…and a 3% decrease from last year at this time.

Market Update_January_2019.009.jpeg

The count of active listings, in other words, inventory, also decreased. At the end of December, there were nearly 5,800 active listings, which was 32% less than last month.

Market Update_January_2019.010.jpeg

However, there are more than 50% more homes available to buyers at the end of December than there were in December of 2017. That’s a significant change in a year’s time. More signs that while the market still favors sellers, buyer have more options and the inventory noose is loosening.

Market Update_January_2019.011.jpeg

We ended December with 7 weeks of inventory, 1 week less than last month…

Market Update_January_2019.012.jpeg

…but 3 weeks more than last year at this time.

In December, sales outpaced new listings in every price range, with the exception of $2M+, pushing inventory levels down 18% as compared to last month.

Market Update_January_2019.013.jpeg

You might be surprised to hear that in December, homes spent an average of 56 days on the market, 11 days longer than November…

Market Update_January_2019.014.jpeg

…and 6 days more than this time last year.

Market Update_January_2019.015.jpeg

On average, single-family detached homes were on the market for 51 days, while condos/ townhomes were on the market for 70 days.

Market Update_January_2019.016.jpeg

The good news for sellers is that half of all homes on the market are still selling in 3 weeks or less. These are always the homes that are well staged, marketed and presented at their best and more importantly, priced appropriately.

As always, we know everyone’s situation is unique, so please give us a call to discuss how the real estate market impacts you. We’d love to hear from you!

group shot.jpg

The Altitude Group

Matt Thomas

REALTOR® | MCNE

303-269-1617

Matt@AltitudeRealEstateGroup.com

——————————-

Chad Schneider

REALTOR® | CNE

720-767-2423 (CHAD)

Chad@AltitudeRealEstateGroup.com