November 2019 Housing Market Statistics
Despite seasonal cooling in the Denver Metro Area housing market, home sales remained level compared to last year. Home prices have seen steady gains throughout the year, up an average of 3% year to date.
In the Denver Metro Area this November, 4,176 homes sold, a year-over-year difference of less than one percent. As compared to last month, sales saw an 18% decrease, which is typical for this time of year.
In November, contracts were put in place on 4,416 homes, up 19% from last year and down 11% from last month.
Home Sales Year-Over-Year Change
November 2018 -- 4,183
In November, the average price of a single-family home was $486,747, a year-over-year increase of 6% and up 1% from last month.
Single-family detached homes sold for an average price of $533,564, up 6% year over year. The price of condos/townhomes was up 2% from November 2018, at an average of $363,258.
Average Sold Prices Year-Over-Year Change
November 2018 -- $459,793
New and Active Listings
Throughout the month, sellers brought 3,651 new listings to the market, down 6% compared to last year, and a 33% decrease from last month.
The count of active listings of homes for sale at the end of November was 6,770, 4% lower than last year and 18% lower than the end of last month.
We currently have seven weeks of inventory, one week less than last November and unchanged from last month.
New Listings Year-Over-Year Change
November 2018 -- 3,899
Average Days on Market
In November, homes spent an average of 43 days on the market, two days less than this time last year and three days more than last month. On average, single-family detached homes were on the market 42 days, while condos/townhomes were on the market 45 days.
The median amount of time a home spent on the market in November was 22 days, two days more than this time last year.
Days on Market Year-Over-Year Change
November 2018 -- 45
Year To Date
At the end of November, all major market year-to-date indicators continue to show positive year-over-year gains. Continued demand from buyers in the fall months is keeping sales higher than last year. Home prices are have seen steady gains, up an average of 3%. On average, homes are staying on the market 2 days longer, giving buyers a bit more time to shop.