Housing Market Stats
Home prices are determined by the supply and demand in a given area. Here, we have compared the city of Denver with the Denver Metro (11 counties - Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties). If there any areas you would like to take a further look at, please let us know! We'll start with the sale price and then move onto the supply statistics (New Listings and Active Listings) and demand statistics (Under Contract and Sold Listings). The charts below are live charts which means they are up to date when the page is refreshed. Well start with Sale Price, then move on to New and Active Listings, followed by Pending Sales and Solds, and finally we’ll end with the time it takes for properties to sell.
Median Sale Price
For the Median Sale Price, I added the 11 county Denver Metro Statistics we track as a comparison. This gives you a better idea of how Denver compares to the rest of the Denver Metro. Home prices are close, with Denver being a bit ahead.
Supply (New and Active)
Here, you will only see the Denver Metro numbers. Pay attention to the supply because a drop in supply can cause in increase in price when it is not able to meet demand. (Also note, each month represents 12 months of listings, not just listings for the given month).
Demand (Under Contract and Sold)
This is another category where we are looking at the entire Denver Metro numbers. Compare this to the supply. If supply is going down and demand is going up, that will influence the sales prices.
Time to Sell (Days on Market)
If you want to see how the market is moving, this is definitely an important stat to stay current on. A more normal balanced market would show 40-60 days on market. The lower this number, the more buyer competition there is which means an imbalance of supply and demand in the seller's favor. Above this mark, there is an imbalance of supply and demand in the buyer's favor.
If you have a home to sell, you can Click Here to get a free online home valuation or if you'd like to search for homes, feel free to Click Here.