A Cautious Start to 2017

These January 2017 Real Estate Statistics show us again that January is the slowest month in the Denver Real Estate market. This holds true to the start of this year, which shows the number of homes sold down 27.8% from December. The number of new listings, however, rose substantially to 3,512. With Denver still being one of the most desirable cities to live in, this is great news for active buyers. There’s good news for sellers too with the price per square foot rising for the second straight month, up 3%.  As the start of the busy season approaches it will be interesting to see how these statistic might change.

Average 30-year fixed mortgage rates continue to rise, just slightly, with a .03% increase. With more homes to choose from, the average days for those homes to be on market rose too, up 6.07% from December. This gives buyers a little more time to consider making an offer on available homes.