What’s Heating Up in Colorado Real Estate

Whether you’re a buyer, seller, or investor, our comprehensive overview will help you navigate the dynamic Colorado real estate landscape. Stay ahead of the curve and make savvy decisions with our expert analysis and tips.

Denver

The real estate market has limited inventory, with just a 3.85-month supply available, showing high demand for homes versus what’s up for sale.

Inventory has increased by 120% over 12 months, hinting at a possible shift toward a balanced or buyer’s market soon. This shift could stem from seasonal changes, economic factors, or shifts in what buyers want.

Despite low inventory, homes sell fast, typically in just 7 days. This speedy turnover reflects a competitive market where buyers must move quickly.

Sellers are benefiting too, with homes selling at 100.1% of the asking price on average. This means they’re often selling for a bit more than listed, highlighting strong demand.

The median sold price for homes is $741,000, indicating a higher-end market with pricier properties. Buyers should be ready for competitive bids and act fast when they find a suitable property.

In short, the current real estate scene is marked by low inventory, high demand, fast sales, and good prices. Both buyers and sellers should brace for competition and partner with a professional real estate agent for success.

Centennial

First, let’s consider the Months Supply of Inventory, which currently stands at 2.62. This metric indicates the number of months it would take to sell all the current inventory of homes on the market at the current sales pace. A lower number suggests a seller’s market, while a higher number indicates a buyer’s market.

The 12-Month Change in Months of Inventory has increased by 136.04%, a significant jump. This suggests that the market has shifted towards a more balanced or even buyer-friendly market compared to the previous year.

The Median Days Homes are On the Market is an impressive 4 days, indicating a high demand for properties. Homes are selling quickly, benefiting sellers who want to move their property fast.

The List to Sold Price Percentage is 100.6%, suggesting that homes are selling very close to the listing price. This is a positive sign for sellers, as they are likely to receive offers close to their asking price.

Finally, the Median Sold Price in this market is $708,500. This figure gives buyers and sellers a good idea of the average price of homes in the area. It is important to note that this is just a median, and individual properties may vary significantly in price.

Overall, these metrics indicate a strong real estate market with high demand and quick sales. Sellers may benefit from listing their properties at competitive prices, while buyers should be prepared to act quickly to secure a home in this competitive market.

Littleton

The housing market is tight right now, with only 2.7 months of inventory available. This means there aren’t many homes for sale, leading to more competition among buyers and potentially higher prices.

Over the past year, inventory has increased by 94.24%, indicating a shift towards a more balanced market. Despite this, homes are still selling fast, with an average of just 7 days on the market. Sellers are seeing homes sell for slightly above their listing price, likely due to high demand and multiple offers.

The median sold price is $705,000, giving buyers and sellers a reference point for pricing. Overall, the market is competitive, fast-paced, and favoring sellers, so it’s essential for everyone involved to stay informed and make strategic decisions.

Highlands Ranch

The Months Supply of Inventory sits at 2.76, showing how long it would take to sell all current homes at the current pace. Lower numbers suggest a seller’s market, while higher numbers hint at a buyer’s market.

The 12-Month Change in Inventory Months has risen by a significant 160.38%, indicating more available homes. This could lead to softer pricing and more options for buyers.

Homes are spending just 6 days on the market on average, suggesting high demand or low inventory, or both.

Homes are selling slightly above their listing price on average, at 100.5%.

The Median Sold Price is $763,500, giving insight into pricing trends.

Overall, the market seems to be balancing out, with more inventory and slightly higher prices. Buyers have more options, and sellers may need strategic pricing.

Castle Rock

The current Months Supply of Inventory is 4.01, indicating a balanced market with enough homes for buyers without oversaturation.

The 12-Month Change in Months of Inventory has increased by +109.95%, suggesting a recent rise in new listings, possibly due to seasonal factors or local economic changes, which may affect pricing and competition.

Homes are selling quickly, with a Median Days on Market of just 15 days, likely due to high demand and competitive pricing.

The List to Sold Price Percentage is 99.2%, showing that homes are selling very close to their listing price, indicating accurate pricing and strong buyer interest.

The Median Sold Price is $732,500, giving a snapshot of current market pricing.

These metrics suggest a balanced and active real estate market with quick sales, competitive pricing, and strong demand. Buyers and sellers can use this information to make informed decisions.

Aurora

The low Months Supply of Inventory, at 3.54, means there are fewer homes available than what buyers are looking for, which can make them act faster when they find a property they like.

The 12-Month Change in Months of Inventory went up by 160.29%, showing a big shift in supply and demand from last year. This could be because there are more homes for sale or fewer buyers.

Homes are selling fast, with a Median Days on Market of 12. This could be because they’re priced well, in great locations, and lots of people want to buy.

Homes are generally selling above their listing price, with a List to Sold Price Percentage of 100.1%. This suggests sellers are pricing smartly to attract multiple offers and get higher prices.

The Median Sold Price is $539,975, showing the typical value of homes in the area. This helps both buyers and sellers understand the market’s price range.

Overall, these numbers show a lively, competitive market that might benefit both buyers and sellers, with buyers needing to move quickly and sellers having a chance to get good returns.