The Denver Metro real estate market remained robust in November 2024. Despite seasonal slowdowns, the market displayed encouraging activity, offering opportunities for both buyers and sellers. Let’s dive into the key highlights from the November market data.
Key Highlights of the November 2024 Market Report
- Closed Listings: 3,061 closed listings, a 10% increase YoY.
- Median Closed Price: $580,000, reflecting a 3% YoY increase.
- New Listings: 2,719, a 1% YoY increase.
- Pending Listings: 3,076, a remarkable 24% YoY increase.
- Median Days in MLS: 29 days, up five days YoY.
- Standing Inventory: 8,972 active listings, a 40% YoY increase.
Spotlight: Luxury Market Performance
The luxury real estate segment, defined as homes priced between $1 million and $2 million, showed significant momentum in November:
- 30% Increase in Closed Sales: Compared to October 2024, high-end homes experienced a notable boost in sales.
- Median Days in MLS: These properties spent an average of 40 days on the market.
- 5% Increase in New Listings YoY: Seller confidence remains strong in the luxury market.
November 2024 Market Watch Infographic
The infographic highlights market trends, including:
- Closed listings: 3,061 (+10% YoY).
- Median closed price: $580,000 (+3% YoY).
- Pending listings: 3,076 (+24% YoY).
- New listings: 2,719 (+1% YoY).
- Median days in MLS: 29 (+5 days YoY).
- Standing inventory: 8,972 active listings (+40% YoY).
Conclusion
The Denver Metro housing market showed consistent growth in November 2024, with a notable rise in closed sales and inventory. Buyers and sellers can take advantage of the current market trends, and the luxury segment continues to shine as a standout performer. For personalized real estate guidance, contact Phillip Booghier, Global Real Estate Advisor at LIV Sotheby’s International Realty.