A Record Setting Year For Denver Real Estate and Home Sales
2020 was a record-setting year. Brokers wrote more contracts on listings, sending them to the pending status, and more homes closed than any year on record. The number of new listings that hit the market did not keep pace with demand, which made inventory a challenge throughout the year. Highlights for January – December 2020 Strong demand kept prices high with median and average closed prices reaching-time highs. Half of all homes closed sold $450,000 or more. Contracts were written on homes quickly in 2020. The median number of days a home was available for sale in the MLS was 7, which means half of homes for sale were off the market in a week or less.
The number of listings that closed in 2020 reached an all-time high. Approximately 71% of all closed listings were Single-Family Residential. The $400-500,000 price range contained 25% of all closed listings. Contracts were written on more listings in 2020 than any other year on record. The number of pending listings dipped in April as in-person as pandemic-related stay-at home orders were put into effect. The most pending listings, 7,300, were recorded in June as coronavirus restrictions were loosened and in-person showings resumed. Strong demand and low inventory levels throughout the Greater Denver Metro Area kept closed prices near all time highs, as half of all homes sold had a final selling price of $450,000 or higher, which is the highest levels on record.
If you are looking to buy or sell a home in Greater Denver, Parker, Lone Tree, Highland Ranch, Littleton or Aurora, be sure to contact us at 720.600.2182. Our local real estate brokers are happy to assist and can save you money at the same time.
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TCT Real Estate - 5650 Greenwood Plaza Blvd #250B, Greenwood Village, CO 80111
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