January 2019 Housing Market Statistics
The first month of 2019 saw fewer home sales across the Denver Metro Area compared to last year, while other housing market statistics show year-over-year increases.
In January, 2,857 homes sold in the 11-county Denver Metro Area, an 8% decrease from last year and a month-over-month decrease of 24%.
The number of homes that moved to Under Contract in January was 8% higher than last year. Throughout the month, contracts were placed on 4,178 homes, a 35% month-over-month increase.
Home Sales Year-Over-Year Change
January 2018 -- 2,857
The rate at which home prices are increasing has continued to moderate in January, with the average price of a single-family home rising to $460,525, up 3% year over year. Compared to last month, prices are relatively unchanged.
In January, the average price of a single-family detached home was $501,553, up 1% year over year. The price of condos/townhomes rose 3% year over year to $356,841.
Sold Prices Year-Over-Year Change
January 2018 -- $460,525
New and Active Listings
In January, the number of new listings in the Denver Metro area saw a 14% increase from last year with 4,817 homes for sale brought to the market. Compared to last month, new listings are up a whopping 109%.
The count of active listings of homes for sale at the end of January was 5,587, 42% higher than last year and 4% lower than the end of last month.
We currently have 8 weeks of inventory, 1 week more than last month and 2 weeks more than last year at this time.
New Listings Year-Over-Year Change
January 2018 -- 4,817
Average Days on Market
In January, homes spent an average of 54 days on the market, 2 days less than last month and unchanged from this time last year. On average, single-family detached homes were on the market for 51 days, while condos/townhomes were on the market for 60 days.
The median amount of time a home spent on the market in January was 30 days, 16 days more than this time last year.
Days on Market Year-Over-Year Change
January 2018 -- 54
The Greater Denver Metro Market by Price Range
January brought a welcome increase to inventory levels in the greater Denver Metro area thanks to 4,817 new listings hitting the market, more new listings than we’ve seen in January since 2013. Of those new listings, 26% were homes priced from $300-400,000, while 22% were priced $400-500,000. Compared to last year at this time, there are 17% more listings in these combined price ranges. Sales across most price ranges were flat or saw decreases compared to last year.