November 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 slowing down across the Greater Denver Metro Area. Fewer new homes for sale came on the market as the holiday season and end of the year approaches.
- View the November 2017 REcolorado Market Watch Video.
- Download the November 2017 REcolorado Market Watch Infographic.
- Download the November 2017 Detailed Market Watch Report.
In November, 4,035 homes sold in the Greater Denver Metro area, a seasonal decrease of 14% compared to last month and 8% less than November 2016. As compared to last year, sales of single-family detached homes decreased 9% and sales of condos/townhomes decreased 4%. Home sales typically take a break in November as the holiday season draws near.
Home Sales Monthly Change
November 2017 -- 4,035
The price of a Denver home saw a slight month-over-month decrease. In November, 4,035 the average price of a single family home was $429,006, down 1% from last month, but 9% higher than last year at this time. The average price of a single family detached home is up 9% year-over-year, and the average sold price of a condo/townhome is 11% higher than this time last year.
Sold Prices Monthly Change
November 2017 -- $429,006
New and Active Listings
The number of new home listings typcially drops off in November, as the weather cools and thoughts turn to preparing for the holiday season. In November, 3,367 new listings came on the market, a typical slowing of 24% compared to last month and 1% lower than last year at this time. The month ended with 4,090 active listings of homes for sale, 24% lower than October levels.
Active Listings Monthly Change
November 2017 -- 4,090
New Listings Monthly Change
November 2017 -- 3,367
Average Days on Market
On average, homes spent 32 days on the market in November, 2 days longer than both this time last month and this time last year. The median amount of time a home spent on the market was unchanged from last year, at 13 days. Homes sold the quickest in Adams and Arapahoe Counties, where average sale prices were in the $300,000 range.
Days on Market Monthly Change
November 2017 -- 32 days
The Greater Denver Metro Market by Price Range
In November, nearly half of all sales took place in the $300-500,000 price range. Just 5 years ago, this price range comprised only 21% of November sales. The $300-500,000 price range also saw the most new listings come on the market. Homes in the $150-300,000 price range spent the least amount of time on the market.