Denver Metro Real Estate Market Report – December 2024
Insights, Trends, and a Look Ahead
As we bid farewell to 2024, the Denver metro real estate market report December 2024 has showcased resilience and a promising outlook for the coming year. December brought key trends and shifts, reflecting both seasonal slowdowns and opportunities for buyers and sellers. Let’s dive into the highlights.
Year-Over-Year Insights
December 2024 saw significant growth compared to December 2023:
- New Listings: Up 9% year-over-year, with 1,889 new homes entering the market.
- Closed Sales: A 13% increase, as 3,034 homes were sold.
- Median Closed Price: Up 6% to $580,000, reflecting steady price appreciation.
- Pending Contracts: 2,459 homes went under contract, a 9% increase compared to last year.
- Median Days in MLS: Homes spent an average of 41 days on the market, 11 days longer than December 2023.
Month-Over-Month Trends | Denver Metro Real Estate Market Report December 2024
Compared to November 2024, the December market reflected seasonal patterns:
- New Listings: Dropped by 31% as sellers took a holiday pause.
- Pending Contracts: Declined by 16%, showing a natural slowdown in buyer activity.
- Closed Sales: Slightly decreased by 1%.
- Median Closed Price: Remained steady at $580,000, demonstrating market stability.
January Inventory Levels
The new year begins with an expanded inventory, offering buyers more options as they enter the market:
- Active Listings: 6,888 homes were available in January 2025, a 46% increase from January 2024.
- Property Types: Detached single-family homes make up 67% of active listings, while townhomes and condos account for 33%.
- Regional Opportunities: Denver and Arapahoe counties lead in inventory, representing 43% of all active listings.
Regional Highlights
In December, local market performance varied across the Denver metro area:
- Douglas County: Lone Tree led the pack with a median home price of $766,000, while Parker and Castle Rock followed with $694,000 and $665,000, respectively.
- Arapahoe County: Centennial and Englewood both showed strong median prices at $637,500 and $580,000.
- Jefferson County: Arvada had a robust median price of $641,450, underscoring its desirability.
City-by-City Statistics
December market performance for individual cities across the Denver metro area reveals notable insights:
Contact Your Trusted Real Estate Advisor
Phillip Booghier
LIV Sotheby’s International Realty
Phone: 303-961-6956
Email: [email protected]