Denver | February | Top Ten Talking Points
1. Despite a slight increase in active inventory, the market remains tight compared to historical averages.
2. Demand surged in January, reflected in a significant increase in pending transactions.
3. Median home prices experienced a notable uptick from the previous month and year.
4. Multiple offers are still prevalent but less severe compared to the peak pandemic years.
5. Approximately 1/5 of homes sold for over asking price, with buyers leveraging concessions to secure lower interest rates.
6. A notable percentage of homes went under contract within 7 days, often above list price
7. Market stabilization persisted, maintaining around 1.2 months of overall inventory.
8. New listings saw a notable increase week over week, outpacing pending transactions.
9. Despite snowstorms, pending transactions slightly increased, indicating resilience in demand.
10. The rate of price reductions decreased, reflecting seller confidence amidst ongoing market activity.
SOURCE: our friends at First American Title
