November 2024 Denver Real Estate Market
The Denver Real Estate Market offers its own share of holiday cheer this Christmas season. While most buyers have retired to cozy fires and holiday parties, the selective and patient buyer has the opportunity of time to check their house shopping list twice! Meanwhile, sellers who have waited until the last minute to pick their competitive price may pay the penalty of those who are naughty and not nice.
Active Listings
In November, active listings continued to show year-over-year increases above 2023, though not as great as previous months. Active listings at the end of the month totaled 9,310, a 39% increase from November 2023’s 6,684 active listings.
Average Price
The $693,861 closing price averaged 5% above November 2023. This was a slight bump from last month, but shows Denver steady, while slowed, price appreciation.
Days on Market
The average number of days a listing remained on the market continued the substantial climb (38%) from last year. Especially now, there is more time for the active buyer.
Closed Price to List Price
On average, the ratio of closed prices to list price held steady as discounts remained for buyers. While sellers overall are pricing more competitively, rate buydowns and repair credits are common concessions.
The holiday season is a time to celebrate with loved ones, rest, recharge, and take stock of the year. 2025 will be here before we know it and CJV will be with you for every step of your real estate journey. If buying or selling a home is on your Christmas wish list, be sure to reach out to your Denver Real Estate expert elf. All of us at CJV Real Estate wish you and your loved ones a very Happy Holidays and New Year.