2019 Denver real estate market<\/a> represented the second highest year for closings in Denver Metro history, with 58,404 closed transactions. This represents an increase of 3.43% from 2018 and was the fifth year in a row exceeding 56,000 transactions. For comparison, in 1990 we closed only 25,619 homes. Not only was 2017 our historical high with 59,207 closings, but nationally it was also a record year.<\/p>\nHere is an interesting statistic; 40% of all homes dropped their list price before going under contract. Properties that reduced their price spent an average of 59 days on the market compared to 14 days for those with no price reductions. That is why it\u2019s so important to price and stage your home right from the start.<\/p>\n
First-time homebuyers (FTHB) are making a bigger splash. They represented 33% of sales in November. As Generation Z starts to age into credit qualification (18 years old), FTHB\u2019s will be at historical highs with an expected 8.3 million to 9.2 million more qualified buyers purchasing homes between 2020 and 2022.<\/p>\n
Interesting Read<\/strong><\/p>\nDenver has the 10th<\/sup> highest share of million dollar homes of any U.S. metropolitan area, according to a new list by LendingTree.<\/p>\nIn the last 20 years, Colorado\u2019s population has increased by a little more than 1.5 million people. As of 2019, the state had 5.7 million residents. On average, the state is growing anywhere from 70,000 to 80,000 people each year. Most newcomers moved to the Front Range (about 91%) and nearly 8% decided to call the Western Slope, home.<\/p>\n","protected":false},"excerpt":{"rendered":"
2019 Denver real estate market review 2019 Denver real estate market \u2013 a historical perspective. The average sold price in 2019 was $486,695, including condos and single family homes, which was an increase of 2.85% from 2018. 2019 Denver real estate market set a new historical high and marked the eighth consecutive year of price…<\/p>\n","protected":false},"author":2,"featured_media":2879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"acf":[],"yoast_head":"\n
2019 Denver real estate market review - LoDoLofts<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n