Real Estate Market Stats for Arvada, Louisville, Lafayette, Broomfield, Erie, Thornton and Westminster.
The North Denver real estate market experienced a slight slowdown in January versus the previous month. It is not uncommon for the beginning of the year to slow down temporarily after the holidays especially when December is an exceptionally strong month. Comparing overall results for January 2017 to January 2016 all market metrics are well above the stats we saw a year ago which is promising news for both buyers and sellers.
There were 692 active listings on the market in January which was an 8% decline compared to December but up 4% to January 2016. Days on the market increased from 34 in December to 37 in January, not a big deal. It just took a couple extra days to sell a home in January. There were 625 closed sales in January which was 30% higher than January 2016 but down 28% to December.
High buyer demand and limited inventory available on the market continue to drive the average home price in the North Denver area up to just under $400,000. Buyers seem to be choosier than they’ve been in recent months and more willing to be patient in finding a property so if you plan to sell your home in the coming months be sure your home is in tip-top shape.