A warm and dry fall created the perfect conditions for buyers who want to continue their home searches. After a surge during the summer months, home prices began to level off in the later part of the year. Still, home prices in the Denver Metro Area are 17% higher than we saw at this point in 2020. Thanks in part to favorable interest rates, buyers are not shying away from higher priced homes.
Denver Metro Area
A warm and dry fall created the perfect conditions for buyers who want to continue their home searches. This October, the Denver Metro Area saw a record number of listings move to the Pending status. Pending listings typically correspond to Closed listings in following months, so this record stat could be an indication that we’ll see strong home closing figures for the remainder of 2021. Prices continue a steady climb, with the Closed Price for Single-Family Residences up 10% year over year.
Inventory is tight in Routt County, with only 4 weeks of inventory at the end of October, down 2 weeks compared to last month. The month ended with only 105 Active listings. Prices saw a slight decrease of 5% year over year with a Median Closed Price of $625,000.
Chaffee County home prices continues to see record highs in October, with Median Closed Price up 20% from last year. The market continues to be competitive, with homes only on the market for a median of 9 days, 21 days fewer than October 2020 and 4 days more than last month.
REALTOR® Association Market Statistics
In addition to the market statistics reports produced by REcolorado, we provide housing market data and collaboratively produce statistics reports with local REALTOR® associations.