February 2024 Denver Real Estate Update
The Denver Real Estate Spring selling season has officially begun and is in full swing. The monthly update shows typical seasonality with increased listings and increasing prices. What does it take to get a deal done? It’s not the luck of the Irish. Work with your CJV expert realtor to create a strategy to reach your real estate goals.
Active Listings
Total active listings during February 2024 in the Denver market increased 46% to 5,511 from 3,778 in February 2023. This is typical Spring seasonality as more sellers list their homes.
Average Days on Market
Days on market decreased 8% from 25 days in February 2023 to 23 days in February 2024. This is also typical seasonality – more buyers in the market means more activity and more homes going under contract.
Average Closed Price
Closed price, on average, increase 3% from $656,234 in February 2023 to $676,575 in February 2024. This marks the beginning of the Spring real estate season as the market begins to heat up.
Percent of Closed Price to List Price
Closed prices, as a percentage of asking price, increased 0.4% in February 2024 to 99.3% from 98.9% in February 2023.
Homes that are priced competitively and fairly are seeing multiple offers. Will March Madness ensue? Keep your finger on the pulse of the Denver Real Estate Market with the monthly CJV Real Estate update blog.