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LUXURY MARKET ($1,000,000+): "Sellers in the $1+ million market had a strong start in February, posting the largest proportional increase in new listings among all market segments, climbing 165 units and growing by 27.82 percent. Buyers followed their lead, boosting month-over-month pending transactions by 40.95 percent and decreased drastically month-over-month from 54 to 19 days. With concurrent and positive signals in both price-per-square foot and close-price-to-list-price ratios, Denver's $1+ million market is starting off impressively strong for the spring selling season." Michelle Schwinghammer, DMAR Market Trends Committee Member & Denver REALTOR® -
SIGNATURE MARKET ($750,000 - $999,999): "The market is seeing a significant uptick in new listings across both detached and attached homes compared to previous years. For instance, residential new listings rose from 776 in 2021 to 1,408, an 81.44 percent increase from the lowest point in 2021, with detached homes jumping from 994 to 1,256 (23.36 percent) year-over-year. This growth in inventory means more options for buyers, potentially reducing competition and giving you a better chance to find a home that fits your needs without the frenzy of bidding wars. Sitting on the fence might mean missing out on this wider selection before inventory tightens again later this year." Greg Cox, DMAR Market Trends Committee Member & Denver REALTOR®. -
PREMIER MARKET ($500,000 - $749,999) "The relationship between supply and demand illustrates the momentum of the market. In February, there were 4.95 percent more listings than the previous month alongside a 10.83 percent increase in closings, indicating that demand has outpaced supply relative to January. This trend is consistent with typical seasonal patterns. When considering momentum at the start of the year, it's important to understand the varying factors that impact supply and demand. Sellers do not normally want to sell their house in December during the holidays and, as previously noted, hit snooze in January. This is reflected by the increased inventory in February. Buyers, on the other hand, often make their New Year's resolution to purchase a house and hit the ground running. That and the perceived stability within the economy have jump-started the year. This reflected in the inventory this month. Single-family detached properties had a 2.47 month of inventory (MOI), which is the most competitive price point throughout Denver Metro. The attached properties MOI was 4.89, the second most competitive price point." Andrew Abrams, DMAR Market Trends Committee Member, and Denver REALTOR®. *Remarks from Pages 14-15 of the January 2025 Market Trends Report from DMAR | | |
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