Market Fun Facts (1/04/212): Happy New year and welcome to 2022. How will the New Year look like with the change of the calendar? To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. This month we are down (-932) active properties from last month for a total of 1,654 active homes for sale. This marks the fourth straight month on decreasing inventory levels. At 1,654 homes this is the lowest active count in the past 14 months. Overall sales are down -768 from last month for a total of 3,913 sold homes in the past 30 days. This decrease in sales combined with the drop in active homes did not affect our absorption rate. In fact we saw a decrease in the absorption rate from a summer .55 months to .42 months (still under 1 month). For the 10th time this year we no longer have a single county over 1,000 active listings. Denver County leads with the way with 384 active listings while Broomfield County continues to have the fewest listings with only 47 active properties. Current publications indicate a balanced real estate market would need a minimum of 18,000 listings. Thinking about selling…let’s talk!
What do these numbers mean? To help understand what these numbers mean to our local markets we are now including the number of sold comps during the past 30 days or 1 month. Looking at our sold numbers over the past month allows us to calculate a monthly absorption rate. An absorption rate tells us how many months it would take to sell off our entire inventory should we have no new listings. A balanced market is considered 6 months. Despite lower sales in August we still see all 6 counties are under 1 month.
Talking Points For January 2022
Special thanks to Megan Aller at First American Title for the following Market Summary:
Record low inventory heading into 2022 shaping up for another furious Spring.
December 2021 may not have brought us much snow but it did bring a lot of competition in the market rounding out a very strong 4th quarter. Metro Denver experienced records across nearly all metrics when reviewing the year-end numbers as compared to previous years in this cycle. Most notably, over 17% appreciation year over year making homeownership one of the best investments consumers can make. Back by popular demand, the appreciation maps through the end of 2021 have been updated for your use in year-end client reviews, be sure to check those out. Here’s the full breakdown for you
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