February 2018 Housing Market Statistics
The latest data from REcolorado show steady trends in the Greater Metro Denver Area housing market this February. While home sales remain unchanged year-over-year, average sold prices continue to increase. New home listings rose year-over-year, but with median days on market of only 7 days, homes continue to sell quickly across the Denver area.
View the February 2018 REcolorado Market Watch Video.
Download the February 2018 REcolorado Market Watch Infographic.
Download the February 2018 Detailed Market Watch Report.
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Home SalesDuring the month of February, 3,221 homes sold, unchanged from last year and up 7% from January. Year to date, sales are just slightly lower than 2017 figures. In addition to strong home sales, February saw a lift in the number of homes going under contract. Throughout the month, contracts were placed on 4,390 homes, a 13% increase from last month. Home Sales Year-Over-Year Change February 2017 -- 3,225 |
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Sold PricesThe average price of a single family home reached $453,788 in February, a year-over-year increase of 13% and 2% higher than last month. The price of a single-family detached home rose above the half-million dollar mark for the first time, reaching $502,157. Sold prices for condos/townhomes reached $346,204, up 17% from last year. Sold Prices Year-Over-Year Change February 2017 -- $402,771 |
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New and Active ListingsAs compared to last year at this time, the number of new listings that were brought to the market increased 2%. Buyers, prepared to quickly scoop up new listings, kept inventory in check across the Greater Denver Metro area. February ended with 4,179 active listings of homes for sale, up 6% from last month, but down 5% year over year. New Listings Year-Over-Year Change February 2017 -- 4,572 |
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Average Days on MarketOn average, homes spent 51 days on the market in February, 7 days longer than February 2017 and 2 days less than last month. In February, condos/townhomes sold in an average of 73 days, while single-family detached homes sold in an average of 41 days. Homes priced in the $200-300,000 range sold the quickest, in just 19 days, 3 days less than last month. Median Days on Market was two days less than last year, at 7 days. Days on Market Year-Over-Year Change February 2017 -- 44 days |
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The Greater Denver Metro Market by Price RangeDemand was strong across all price ranges in February, with 69% of new listings that came on the market resulting in a sale. The market saw the most activity from homes priced in the $300,000 to $400,000 price range, with 25% of new listings coming on the market and 29% of sales.
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