December 2019 Housing Market Statistics
At the end of 2019, both monthly and year-to-date metrics show year-over-year increases. Home sellers brought 11% more listings to the market and buyers placed contracts on 15% more homes. 2020 began with 5 weeks of inventory.
In the Denver Metro Area this December, 4,458 homes sold, a year-over-year increase of 18%. As compared to last month, sales saw a 4% increase.
In December, contracts were put in place on 3,514 homes, up 15% from last year, but down 17% following a very active November.
Home Sales Year-Over-Year Change
December 2018 -- 3,789
In December, the average price of a single-family home was $484,065, a year-over-year increase of 5% and down less than 1% from last month.
Single-family detached homes sold for an average price of $529,265, up 5% year over year. The price of condos/townhomes was up 7% from December 2018, at an average of $372,577.
Average Sold Prices Year-Over-Year Change
December 2018 -- $462,040
New and Active Listings
Throughout the month, sellers brought 2,557 new listings to the market, up 11% compared to last year, and a 30% decrease from last month.
The count of active listings of homes for sale at the end of December was 5,042, 13% lower than last year and 26% lower than the end of last month.
We currently have 5 weeks of inventory, two weeks less than last December and last month.
New Listings Year-Over-Year Change
December 2018 -- 2,297
Average Days on Market
In December, homes spent an average of 48 days on the market, 8 days less than this time last year, but five days more than last month. On average, single-family detached homes were on the market 48 days, while condos/townhomes were on the market 49 days.
The median number of days a home spent on the market in December was 27, one less than this time last year.
Days on Market Year-Over-Year Change
December 2018 -- 56
Year To Date
The year ended with all major market indicators showing positive gains compared to 2018. The market experienced steady demand from buyers, which kept sales strong, up 4%. Average sold price was up 3% and the number of new listings hitting the market was 4% higher than we saw last year. On average homes spent one day longer on the market than in 2018.