December 2024 Denver Real Estate Market
The new year presents opportunities to reflect on the Denver Real Estate Market. Before we look towards 2025, let’s look back on the last month of real estate activity in 2024.
Active Listings
Active listings increased 39 percent over last December, consistent with the strong year-over-year listing growth throughout 2023. At the end of the year, there were 6,888 listings on the market.
Average Price
The $687,672 closing price again averaged 5% above the previous month. The Denver market has maintained this steady appreciation all year.
Days on Market
In December, listings remained on the market for an average of 56 days, a 22% from December 2023. Opportunities remain for buyers looking for a deal.
Closed Price to List Price
Listings closed for 98.5% of list price on average in December 2024. This was a slight 0.7% decrease from December 2023, reflective of a winter market with more seller concessions.
Next year’s Denver Real Estate Market activity will largely be dependent on interest rates. Our suggestion to buyers who remain on the sidelines is to be ready to act quickly if rates dip. Similarly, future sellers would be wise to begin their listing preparation now. Spring is coming and winter will be over before we know it. Reach out to your CJV Real Estate Expert today if we can help.