December 2021 Market Update | DT Properties in Littleton, CO
Hello, my name is Tricia David, and I'm a realtor with DT properties, and I'm here to give you your Denver Metro market update for December 2021 with a bit of year in review.
Now, when we think back to the beginning of 2021, we had this crazy high competition. There was buyer demand so high that we were seeing six figures over the asking price. By the middle of the year, that subsided and became less common. Having said that, we still ended the year up one percent, at a hundred and two percent close to list price. We also saw that the average close price of a single-family home was up 17% at just over $702,000.
When we look at the active listings for the month of December, we only have 1372 and that was down 64 from the previous year and down 32% from just the previous month. Now, because of the holidays and December being a colder month, it tends to be a lot slower in terms of new listings making their way to market. This year it was no different, in fact, it was down an additional 12 from the year before at just over 2,500.
Even though we have this crazy, record-low level inventory and insane high buyer demand we still were able to put 3,200 homes under contract last year, and here's the most staggering data of all. We are currently sitting on only 10 days of inventory.
Even though I think 2022 will bring more listings to market, I think it's going to get worse before it gets better. If you're a buyer, you probably already know that Denver leads the nation in buyer demand by more than twice the national average. I think 2022 is going to be very competitive for buyers once again.
Here is some encouraging information for buyers though. People are still selling and people are still buying. In fact, if you look at the data from the last five years, there were more purchases in 2021 than in any of the previous five years. I think that is encouraging for buyers.
So if you’re one of 2022’s hopeful buyers, give someone on our team a call. We would love to help you find your next home here in the Denver Metro area.
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