21/01/2021
The Denver housing market remains incredibly competitive as inventory remains limited and demand is stronger than ever. Homes are sitting on the market (list to close) for only 30 days, which is a decrease of 11.9% from 2020. Price per square foot is up 7.4% across the MLS since December of last year ($231 from $215). Additionally, the inventory measurement continues to decrease, with 1.2 months supply across the MLS, which shows a very supply-constrained market compared to a stable, healthy market of 5 to 6 months supply.
Trends to Watch:
- The suburban housing submarkets are thriving, as people are in search of larger homes and apartments without the concern of a commute. (Greenwood Village and Centennial collectively have 146 active listings, down 43.6% from this time last year).
- The Denver job market remains strong, with a large millennial population eager to move to the area. Many companies have acclimated to longterm remote workplaces, and this adjustment has allowed for a more stable workforce moving into 2021.
- Colorado remains a top moving destination, as net migration is nearly 50,000. Colorado maintains strong fundamentals to support a healthy local economy and labor force.
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