How's The Market? As of January 2021

How's The Market? January 2021

As we digest the data from 2020, and have learned to live with the daily affects of a 100 year Pandemic event, you have each shown an amazing resilience to continue to take care of your clients Real Estate needs!

The words of the year are Wow and Unbelievable!
The Core numbers as we ended 2020 are as follows:
Extremely Low Inventory at 2,541 Active Listings for Homes, Townhomes & Condos in all of the Metro Denver Area, which is down -49.5% from a year ago!
Total Closings 62,985 which is up 6.95% from a year ago!
The Average Price of a Single Family Home at $583,976 which is up 9.06% from a year ago! The Average Price of Townhomes & Condos at $379,640 which is up 4% from a year ago.
A staggering $33 Billion dollars in Volume Closed in 2020, which is up 15.4% from 2019!
The answer to this Record Breaking year has been simply Buyer Demand! The number of New Listings in 2020 was about the same as 2019, within 1.7%, so our Low Inventory was truly caused by our Buyers purchasing as much Inventory as possible!
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