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Denver Housing Market Begins 2015 with an Increase in New Listings

In Denver Real Estate | on March, 02, 2015 | by | 0 Comments

DENVER – February 5, 2015 –REcolorado, Colorado’s largest MLS and the provider of REcolorado.com, today released its January 2015 statistics on the Denver area housing market. The report includes data from REcolorado’s 16,000 members who operate throughout the greater Denver Metro area.

January’s statistics showed impressive increases in the number of new listings that came on the market, indicating sellers are looking to get a jump on the selling season and take advantage of what continues to be a prime seller’s market. January saw 3,964 new listings come on the market, a 62 percent increase over last month.

Indicative of the competitive housing market, sellers saw an extremely quick sales cycle. The average days on market remained at just 39 days, 17 days less than January 2014. Buyers began scooping up the new inventory quickly, as 4,514 listings went under contract, a 28 percent increase over last month.

“An influx of new listings gave the metro Denver housing market some momentum as the new year began,” said Kirby Slunaker, president and CEO of REcolorado. “With inventory levels remaining low and prices holding strong, the market continues to be competitive and fast-moving. Now is a great time for sellers who have been waiting to put their home on the market.”

Residential housing inventory levels in the greater Denver area remained at historically-low levels, despite the increase in new listings. Since July of last year, the number of available homes on the market has continued to shrink. At the close of January, there were only 5,152 active listings on the market, a four percent decrease over last month and 26 percent less than last year.

While January brought a slight cooling in average sales price, home values remained high. At $329,141 average sale price was down 3 percent month over month but up nine percent year over year. Sales also saw a seasonal downtick. In January, 2,497 homes sold, which was a 37% decrease compared to December.

“Given the competitiveness of the marketplace, it’s going to be critical for buyers and sellers to leverage the many resources that are available to them on REcolorado.com as they coordinate their efforts with an experienced REALTOR®,” said Slunaker.

About REcolorado

Since 1984, REcolorado has been focused on providing the most accurate and up-to-date real estate information for professionals and consumers. Updated every 15 minutes with new and sold listings and powered by the state’s largest network of real estate professionals, REcolorado.com is Colorado’s most accurate home search tool. REcolorado.com also offers consumers mortgage resources, information about Colorado neighborhoods and cities, sold listings, open houses, and a comprehensive database of real estate professionals.

REcolorado is the largest Multiple Listing Service (MLS) in Colorado. With 16,000 professional members who operate throughout the state of Colorado, it is REALTOR® owned and serves Aurora Association of REALTORS®, Douglas Elbert REALTOR® Association, Denver Metro Association of REALTORS®, Mountain Metro Association of REALTORS®, and South Metro Denver REALTOR® Association.

 

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