As of January 2023, there are 3,040 single-family homes for sale in the entire Denver Metro area. Last year in 2022, this time there are 1,237 homes in the entire area. That’s a 1,803 increase in homes for sale! Supply vs. Demand? We’ve not seen this amount of homes for sale since January 2021 and they keep ticking up! The average price to the end of 2022 was $701,810 for the entire Denver metro area, for a single-family home. Yet, by the end of 2021, the average price was $708,458.
This is a decline for the first time in over 12 years! Keep in mind all of 2022 interest rates were very high, which can have a large impact on the way the market flows. With interest rates so high, you find fewer people in the market for a new home, so the price of homes was declining. What have you experienced through this housing market for the last few years? Through COVID, interest rates raising, and the price of homes. Have you been able to purchase it? Inquire about Vegas. Give us a call today!
