Denver Real Estate Market Update: January 2019

Posted on at 6:46 pm by Andrea Webber

LIV Sotheby’s International Realty compiles regular reports that provide valuable insight into the state of the Denver real estate market.

The most recent LIV Sotheby report, released last week, provides a solid snapshot of the Denver real estate market’s conditions at the end of 2018. While the buzz at the end of 2018 centered on a slowing Denver real estate market, LIV Sotheby’s report contradicts this sentiment.

Here are a few of the 2018 year-end report’s findings:

  • The Denver metro area, which is divided into 54 neighborhoods, saw significant price increases in 2018 with the average price climbing 8.2% from $428,050 in 2017 to $463,288 in 2018.
  • The total dollar volume sold in the Denver real estate market increased by 2.6% from 2017, which accentuates the fact that average price increased as a whole in the Denver Metro area.
  • New listings in the Denver real estate market increased from 2017 to 2018.
  • Sold listings in he Denver market slightly decreased from 2017 to 2018
  • Zillow recently ranked Denver as the #3 hottest housing market of 2019, which means that buyers continue to flock to Denver.
  • The Denver economy continues to thrive, supported by a tight skilled labor market and a strong business environment.

The Denver real estate market typically warms up in the spring, so the busy selling season is right around the corner. Since the market remains strong in January, homebuyers should be prepared to act quickly during their home search. As always, I always recommend having a seasoned real estate professional help you navigate the process of buying or selling a Denver property.

For more information on Denver real estate market trends, please contact Andrea Webber at 303-475-7057.

Click here to read LIV SIR’s Full Year-End 2018 Micro Market Reports

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