February Real Estate Market the story in numbers

February 2021 continued to be a record-breaking month. The Denver Metro Association of Realtors spells out the market picture with the numbers. Lowest inventory and highest demand sum the market up.

Home tour
In a hot market, seeing the home as soon as possible is essential.

ACTIVE HOME FOR SALE LISTINGS

  • (Residential homes) 2,024 represents the lowest inventory on record. The previous low was January 2021 of 2,316. 
  • (Detached homes) 1,120 represents the lowest inventory on record. The previous low was January 2021 of 1,263.

CLOSED/SOLD PRICE — MEDIAN

  • (Residential homes) $475,000 represents a tie for the highest amount on record. The previous record was in October 2020.
  • (Detached homes) $530,000 represents the highest amount on record. The previous record was in October 2020 of $515,000.
  • (Attached homes – Condos and townhomes) $337,250 represents the highest amount on record. The previous record was October 2020 of $337,000.

CLOSED/SOLD PRICE — AVERAGE

  • (Residential homes) $553,774 represents the highest February on record. The previous record was in 2019 of $463,642.
  • (Detached homes) $632,581 represents the highest amount on record. The previous record was in January 2021 of $627,550.
  • (Attached homes) $401,552 represents the highest amount on record. The previous record was in January 2021 of $396,677.

DAYS IN MLS (Active on Market) — MEDIAN

  • (Residential homes) 5 days represents a tie for the lowest number on record. The previous low was set in 9 different times.
  • (Detached homes) 4 days represents the lowest number on record. The previous low was set 6 different times.

DAYS IN MLS — AVERAGE

  • (Residential homes) 23 days represents the lowest February on record. The previous low was in 2018 of 32 days.
  • (Detached homes) 19 days represents the lowest February on record. The previous low was in 2018 of 34 days.

CLOSINGS/SOLD Homes

  • (Residential homes) 3,641 represents the highest February on record. The previous high was set in 2020 with 3,511 Closings.
  • (Attached homes) 1,241 represents the highest February on record. The previous high was set in 2018 & 2020 with 1,068 Closings. 

MONTHS OF INVENTORY (MOI)

  • (Residential homes) 0.56 months represents the lowest February on record. The previous record low was in 2017 with 1.19 months.
  • (Detached homes) 0.47 months represents the lowest February on record. The previous record was in 2018 with 1.28 months.
  • (Attached homes)  0.73 months represents the lowest February on record. The previous record was in 2016 with 0.82 months.

PENDING/Under Contract

  • (Attached homes) 1,520 pending transactions represent the highest February on record. The previous high was in 2017 of 1,457.

How can you buy?

Assemble your team. Work with your mortgage lender and REALTOR® to be prepared and make a plan for achieving your real estate goals.

Have questions?

I am here to help! I have an excellent team of seasoned mortgage lenders to provide you with the financing you’ll need to win the deal. Call or text me: (720) 675-7355.

Plan for success!