December 2017 Housing Market Statistics
The latest data from REcolorado, the provider of REcolorado.com, a free home search site for Colorado home buyers, sellers, and renters, show the housing market following typical patterns at the end of the year across the Greater Denver Metro Area. 35% fewer new homes for sale came on the market in December as thoughts turn to the holiday season.
- View the December 2017 REcolorado Market Watch Video.
- Download the December 2017 REcolorado Market Watch Infographic.
- Download the December 2017 Detailed Market Watch Report.
In December, 3,926 homes sold in the Greater Denver Metro area, a decrease of 17% compared to last month and 13% less than December 2016. As compared to last year, sales of single-family detached homes decreased 12% and sales of condos/townhomes decreased 14%. Home sales typically moderate in December as home shoppers focus on the holidays.
Home Sales Monthly Change
December 2017 -- 3,926
The price of a Denver home saw a slight month-over-month increase. In December, the average price of a single family home was $443,378, up 2% from last month, and 12% higher than last year at this time. The average price of a single family detached home is up 12% year over year, and the average sold price of a condo/townhome is 11% higher than this time last year.
Sold Prices Monthly Change
December 2017 -- $443,378
New and Active Listings
It is typical for the number of new home listings to fall 25 to 35% in December as thoughts turn to the holiday season. In December, 2,381 new listings came on the market, a seasonal 35% month-over-month decrease and 4% lower than last year at this time. The month ended with 3,838 active listings of homes for sale, 6% lower than November levels.
Active Listings Monthly Change
December 2017 -- 3,838
New Listings Monthly Change
December 2017 -- 2,381
Average Days on Market
On average, homes spent 49 days on the market in December, 8 days longer than this time last month and 4 days longer than this time last year. The median amount of time a home spent on the market was unchanged from last year, at 16 days. Homes sold the quickest in Arapahoe and Clear Creek Counties.
Days on Market Monthly Change
December 2017 -- 49 days
The Greater Denver Metro Market by Price Range
In December, homes priced $300,000 to $400,000 had the greatest number of sales. In every price range except the $1M and above, sales are outpacing the number of new listings that are coming on the market, which is leading to the shortage of inventory. Inventory is moving the quickest in the $200,000 - $400,000 price range, with days on market below 30 days.