• Resilience in the Housing Market: The Denver Metro housing market showed resilience in November 2024, with a 10% increase in closed listings compared to the same time last year, despite a 13% decrease from the previous month.

• Median Closed Prices: The median closed price for homes reached $580,000, marking a 3% increase from last year. However, there was a 4% decline from October to November as sellers adjusted their asking prices to attract buyers.

• Buyer Activity: Buyers showed strong activity, executing contracts on 3,076 home listings in November. This number is 24% higher than last November, although there was a 9% decrease from October, which is less than the typical seasonal dip. Homes spent an average of 29 days in the MLS before a contract was executed, which is 5 days longer than last year and 1 day longer than last month.

• Standing Inventory: Standing inventory, or the number of listings actively available for sale, was 40% higher than last year, with 8,972 homes on the market. However, this represents a 17% decrease from October due to strong buyer activity and a decrease in new listings added to the market in November.

• Rental Market: In the rental market, 233 properties were leased through REcolorado MLS in November, an 18% decrease from November 2023 and a 28% decrease from last month. The median leased price was 1% lower than last year.

• The $1 to $2 Million Home Market: The market for homes priced between $1 and $2 million remained particularly strong, with a 30% increase in closings in November and a 5% year-over-year increase in new listings. These homes were actively available for a median of 40 days before a contract was executed.

*Information provided by REColorado. Click here for the full report.