Our market update for the metro Denver area for December 2024 is broken down into All Residential, as well as Luxury Residential stats.

Below are links to download our update, as well as a breakdown of the stats in more detail:

• Metro Denver Area Residential Market Update
• Metro Denver Area Residential Luxury Market Update
• Metro Denver Area Residential Market Update Detailed Stats

Metro Denver Area Residential Market Update

Merry Christmas and a very Happy Holiday Season!

The Denver Metro Real Estate Market reflected many of the seasonal patterns we experience through November and the Holiday Season, however the past month had several unique influences with the employment data report, the Federal Reserve meeting, the Election as well as a larger than usual snow storm all of which created market volatility.

By the numbers, our Active Inventory went down to just over 9,300 homes for sale, while our Pending Homes increased year over year by almost 22% and Closed homes were up about 6% from 2023!

Here is the Good News: This is one of the best times of the year for Buyers to look for their next home! Sellers that are on the market during the Holiday Season are typically eager to sell or truly need to sell and will offer more concessions or reduced prices to finalize the sale! In fact, in November over 50% of the homes that sold had reduced their price, and over 60% offered and paid a concession to the buyer in the form of lower interest rates or covering closing costs.

The market demand feels like there is a renewed confidence for the coming year, and we are excited to share our Top 10 Predictions for 2025 next month. Most importantly, please call us today with any questions for your Real Estate needs for the New Year. We truly appreciate your trust and confidence in us! Enjoy the blessings of the Holiday Season, and we wish you a Happy, Healthy and Prosperous New Year!

Metro Denver Area Luxury Market Update

The Luxury market is still remaining strong with the total number of sold properties increasing by over 18% year over year.

Although very neighborhood dependent, prices have remained stable with the $1M to $2M range being the strongest sector of this market.

Inventory has increased giving buyers more options and making sellers be sure that they are pricing their properties correctly. While buyers are out in large numbers they are either looking for what their vision of the “perfect” property is or they are  looking for value.

Nearly 40% of all sales above $1M this year have been cash purchases so buyers are ignoring the current fluctuations in interest rates. It is important that both buyers and sellers have realistic expectations of the market and what to expect.