January 2018 Housing Market Statistics
- View the January 2018 REcolorado Market Watch Video.
- Download the January 2018 REcolorado Market Watch Infographic.
- Download the January 2018 Detailed Market Watch Report.
During the month of January, home sales saw a year-over-year decrease of 9%. Throughout the month, 2,935 homes sold, down 32% from December.
Although there was a dip in sales, January was a very active month, with 4,060 homes going under contract, a 34% increase from December 2017, and 9% higher than this time last year.
Home Sales Year-Over-Year Change
January 2017 -- 3,237
The average price of a single family home reached $447,487 in January, a year-over-year increase of 11% and 1% higher than last month.
As compared to last year, the average sold price of a condo/townhome was up 20%, while single-family detached home prices were up 10% .
On average, sellers received 99% of their asking price in January.
Sold Prices Year-Over-Year Change
January 2017 -- $401,961
New and Active Listings
As compared to last year at this time, the number of new listings that were brought to the market increased 10%. New listings of condos/ townhomes were up 9% over last year, while there was an increase of 11% in single family detached homes.
High demand from buyers kept inventory in check across the Greater Denver Metro area in January. The month ended with 3,939 active listings of homes for sale, up 3% from last month, but down 15% year over year.
New Listings Year-Over-Year Change
January 2017 -- 3,809
Average Days on Market
On average, homes spent 53 days on the market in January, 8 days longer than January 2017 and 4 days more than last month.
In January, condos/townhomes sold in an average of 69 days, while single-family detached homes sold in an average of 45 days. Homes priced in the $200-300,000 range sold the quickest, in just 23 days.
Median Days on Market was 2 days less than in January 2017, at 13 days.
Days on Market Year-Over-Year Change
January 2017 -- 45 days
The Greater Denver Metro Market by Price Range
Demand was strong across all price ranges in January, with 68% 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, with 26% of new listings coming on the market and 29% of sales taking place in this range.