Attached Single Family March 2022
Please Note The contents of this report only reflect attached single family (ASF), unless where otherwise noted to include detached single family (DSF) or (ASF+DSF) homes in the 7 Metro Denver Counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson. This representation is based in whole or in part on content supplied by REcolorado®, Inc. REcolorado®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market. Dates shown on graphs for timeframes included. For additional sourcing references please refer to the back of the report. We highly encourage you to review reports published by your REALTOR® Board and REcolorado®. Each report covers a different geography and will report different values for all metrics.
MARKET DYNAMICS.
Greater Metro Denver UpdateMarch 2022 DSF ASF Metric Detached Single Family Attached Single Family Mar-22 MOM YOY Mar-22 MOM YOY Active * 1,325 1.7% 17.7% 499 -7.9% -40.7% Pending * 3,042 10.7% -23.4% 1,351 7.2% -22.7% Closed * 3,439 60.3% 2.5% 1,452 36.0% -14.1% Expired * 158 9.0% -36.3% 66 20.0% -47.6% ONE PAGE SNAPSHOT 81.4% 4.2% -2.8% 5.2% Odds of Selling 106.8% 1.6% 2.6% 83.2% 3.6% 4.2% Close/List Price Ratio 106.7% 3.8% 1.0% 4.6% Close/Original Price Ratio 789,015 7.3% 19.1% 105.9% 2.0% 18.0% Average Sold Price 660,000 4.5% 17.9% 15.3% Median Sold Price 105.8% 2.1% 6.8% -4.5% -1.8% -3.0% % of Closed Transactions with Reduced Prices * $ $ 492,416 9.0% Average Price Reduction from Original Price * $ -4.5% 0.2% 0.8% -0.4% 11.7% -5.9% -3.9% $ 421,000 5.3% -11.6% % Transactions Under Asking Price 10.6% -0.3% -2.5% -10.5% % Closed Trasactions Full Price Offer 77.7% 6.2% 6.4% 5.6% -3.5% 22.0% % Closed Transactions Over Asking Price 11 -31.3% -26.7% -5.1% -0.2% -52.0% Average DOM * 12.9% -18.7% Median DOM * 4 0.0% 0.0% 13.3% -2.5% -20.0% 71.4% -2.3% -6.4% 73.8% 21.2% -6.4% Pending in 7 Days or Less (Flash Sale) 0.4 -36.5% 14.8% 12 -40.0% -31.0% Months of Inventory * 0.1% -0.1% -0.1% 0.0% 4.17% 0.41% 0.79% 4 0.0% 0.79% Dirstressed Transactions 73.6% 0.4% Average Interest Rate 0.3 -32.3% 0.2% 0.1% 4.17% 0.41% Average P&I Payment (based on median) $ 3,511 13.0% 34.7% $ 2,187 14.9% 34.7% This representation is based in whole or in part on content supplied by REcolorado®, Inc. REcolorado®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market. Dates shown on graphs for timeframes included. Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, Jefferson. Average Interest Rate and Average P&I Payments are based on the value from FreddieMac.com using a 10% down payment on a 30 year fixed term. Mortgage calculations are for informational use only and not a guaratnee. Please speak with licensed Loan Officer for details. Metrics containing ( * ) indicated this measurement can be tracked weekly and have more current values in the COVID-19 Weekly Report available from First American Title.
- 0.0 2,000 4,000 5,000 7,000 9,000 10,000 1,000 3,000 6,000 8,000 Metric 1/1/2005 Greater Metro Denver Attached Residential Market Dynamics 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 MSI 1/1/2007 MSI Active New Listings Pending Sold Expired Predictive MSI 5/1/2007 0.3 9/1/2007 12.0 -32.3% 1/1/2008 -31.0% 5/1/2008 9/1/2008 Active 1/1/2009 5/1/2009 499 9/1/2009 -7.9% 1/1/2010 -40.7% 5/1/2010 9/1/2010 New Listings 1/1/2011 5/1/2011 1,499 9/1/2011 20% 1/1/2012 -31% 5/1/2012 9/1/2012 Pending 1/1/2013 5/1/2013 1,351 9/1/2013 7.2% 1/1/2014 -22.7% 5/1/2014 9/1/2014 Sold 1/1/2015 5/1/2015 1,452 9/1/2015 36.0% 1/1/2016 -14.1% 5/1/2016 9/1/2016 Expired 1/1/2017 5/1/2017 66 9/1/2017 20.0% 1/1/2018 -47.6% 5/1/2018 9/1/2018 Predictive 1/1/2019 MSI 5/1/2019 0.3 9/1/2019 1/1/2020 -32.3% 5/1/2020 -31.0% 9/1/2020 1/1/2021 5/1/2021 2.0 4.0 6.0 8.0 10.0 9/1/2021 1/1/2022 ASF MARKET DYNAMICS HISTORIC
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 INSERT TEXT HEREActive Unit Historic Baseline as compared to 2022 1,438 MARKET DYNAMICS ACTIVE BASELINE 1,450 1,535 1,630 1,830 1,926 2,019 2,038 2,027 1,861 1,558 1,248 502 542 499 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Active inventory for sale is typically at it’s highest in the late summer and the lowest inventory in the coldest winter months.
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 INSERT TEXT HEREPending Unit Historic Baseline as compared to 2022 1,122 1,218 1,194 1,260 1,418 1,351 1,424 1,591 1,614 1,538 1,535 1,343 1,361 1,146 895 MARKET DYNAMICS PENDING BASELINE Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec The most units transitioning to the under contract status is typically from March through July.
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 Closed Unit Historic Baseline as compared to 2022 1,452 1,408 1,518 1,506 1,523 1,309 1,393 1,350 MARKET DYNAMICS CLOSED BASELINE 1,238 1,172 1,183 807 956 961 1,068 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Closed transactions follow behind the units being placed under contract by approximately 30-35 days with the heaviest closing months from May to August.
Greater Metro Denver Single Family Attached ASF INSESuRpplTy inTMEonXthsTbyHPriEceRRanEge March 2022 8.0 5.0M+ - 4.0-5.0M - MONTHS OF INVENTORY BY PRICE RANGE 3.0-4.0M 0.5 2.0-3.0M 1.5-2.0M 1.1 1.0-1.5M 1.0 800-999K 0.9 600-799K 0.5 400-599K 0.2 200-399K 0.3 0-199K 0.1 All Prices 0.3 The Metro Denver Real Estate Market continues to be drastically under- supplied of homes at the current rate of demand. A market in balance would be closer to a 6 month supply of inventory. Values below 1.0 month indicate a high likelihood of multiple offers.
DSFMONTHS OF INVETORY BY ZIP CODE ASF 1.5 0.42 0.13 The suburban surge and demand for larger homes with more room continues into 2021. More urban densely populated areas are still far from a balanced market but are slightly less competitive than the outer ring suburbs.
- 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Metric 1/1/2005 Greater Metro Denver Detached Attached Active vs. Balanced Market 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 Active 1/1/2007 5/1/2007 499 9/1/2007 -7.9% 1/1/2008 -40.7% 5/1/2008 9/1/2008 Active for 1/1/2009 Active Balance 5/1/2009 9/1/2009 8,712 1/1/2010 36.0% 5/1/2010 -16.9% 9/1/2010 1/1/2011 % of Balance 5/1/2011 Active Units for Balance 9/1/2011 5.7% 1/1/2012 -2.7% 5/1/2012 -2.2% 9/1/2012 1/1/2013 5/1/2013 % of Balance 9/1/2013 0.0%1/1/201420.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0% 180.0% ASF 5/1/2014 9/1/2014 200.0% 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 % OF BALANCE HISTORIC
Greater Metro Denver Single Family Attached ASF INSERT TEXT HEREActive Unit Count vs. Active Required for Balance by Price Range March 2022 8,712 5.0M+ - % OF BALANCE BY PRICE RANGE 4.0-5.0M 1 3.0-4.0M 2.0-3.0M - 1.5-2.0M 2 1.0-1.5M 800-999K 12 1 12 16 66 12 270 43 252 39 600-799K 1,062 83 400-599K 2,880 119 200-399K 3,792 0-199K 174 366 9 All Prices 499 The Metro Denver Real Estate Market currently has only 9.9% of the homes required to offset demand. The red bar represents how many homes would need to be actively listed to create a 6.0 month supply of homes, or a balanced market.
DSF ASF 28.3% 6.2% 1.4% % OF BALANCE BY ZIP CODE Zip codes in red are the most undersupplied areas in Metro Denver. At most in LoDo there is still only 57.5% of the amount of inventory to offset demand. A market in balance would display a value of 100%.
ODDS OF SELLING.
Metric 1/1/2005 Greater Metro Denver Attached Residential Odds of Selling 5/1/2005 Current 9/1/2005 90.0% MOM 1/1/2006 80.0% YOY 5/1/2006 70.0% 9/1/2006 60.0% Odds of 1/1/2007 50.0% Selling 5/1/2007 40.0% 83.2% 9/1/2007 30.0% 3.6% 1/1/2008 20.0% 5.2% 5/1/2008 10.0% 9/1/2008 1/1/2009 0.0% 5/1/2009 9/1/2009 ASF 1/1/2010 5/1/2010 9/1/2010 1/1/2011 5/1/2011 9/1/2011 1/1/2012 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 ODDS OF SELLING HISTORIC
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 INSERT TEXT HEREOdds of Selling Baseline as compared to 2022 78.8% 79.6% 83.2% 52.8% 60.7% 60.4% 58.6% 58.1% 55.2% 56.8% 57.2% 57.4% ODDS OF SELLING BASELINE 56.0% 58.9% 59.4% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec The Odds of Selling is a ratio of homes for sale in each month, those that went under contract and closed vs those that remained in the market and did not sell. Since this is a direct ratio of the buyers and sellers in a market, the higher this number is the more likely it is that a home will sell. If this number is lower, that means that buyers will have more negotiating power and be less likely to compete against multiple offers.
Greater Metro Denver Single Family Attached ASF INSEOdRdsTof STellEingXbyTPrHiceERaRngeEMarch 2022 5.0M+ 33.3% 4.0-5.0M 0.0% 3.0-4.0M 85.7% ODDS OF SELLING BY PRICE RANGE 2.0-3.0M 19.0% 1.5-2.0M 63.9% 64.7% 1.0-1.5M 69.3% 800-999K 600-799K 78.9% 87.5% 400-599K 85.3% 200-399K 91.0% 0-199K 83.2% All Prices The Odds of Selling remain incredibly high at all price ranges. This is the comparison of all active units in the market vs. those that go under contract and or close in the same month.
INSERT TEXT HERE DSF ASF 54.1% 81.9% 95.1% ODDS OF SELLING BY ZIP CODE Zip codes in red are the most competitive for buyers looking to purchase. There is correlation to lower priced homes having a higher amount of demand and increased odds of selling.
SHOWING DATA.
Greater Metro Denver Attached Residential Showing Data ASF Total Showings Shows per Listing Total Showable Properties 25.0 45,000 40,000 20.0 35,000 30,000 1/1/2011 15.0 25,000 5/1/2011 9/1/2011 20,000 1/1/2012 10.0 15,000 5/1/2012 9/1/2012 10,000 1/1/2013 5.0 5,000 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 SHOWING DATA HISTORIC - 0.0 Metric Total Shows per Total Showable Showings Listing Properties Current 17.7 MOM 32,745 0.0% 1,850 YOY 2.7% 35.1% 2.7% -17.5% -38.9%
Greater Metro Denver Attached Residential Showings vs. Contracts ASF Total Showings Pending Average Shows to Pending Median Shows to Pending 25 45,000 20 40,000 15 35,000 10 30,000 1/1/2011 5/1/2011 5 25,000 9/1/2011 1/1/2012 0 20,000 5/1/2012 9/1/2012 15,000 1/1/2013 5/1/2013 10,000 9/1/2013 1/1/2014 5,000 5/1/2014 9/1/2014 - 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 SHOWS TO PENDING HISTORIC Metric Total Pending Average Shows Median Shows Showings Current 1,351 to Pending to Pending MOM 32,745 7.2% YOY 2.7% -22.7% 21.4 16.0 -17.5% -3.6% -5.9% 5.9% 6.7%
DAYS TO PENDING.
00 0.4 80 0.5 0.9 160 60 140 Metric 1/1/2005 Greater Metro Denver Attached Residential Average and Median Days to Pending 5/1/2005 0.3 0.8 Current 9/1/2005 40 120 MOM 1/1/2006 YOY 5/1/2006 0.2 0.7 9/1/2006 -52.0% -40.0% 12 4 on Market on Market Average Days Median Days 1/1/2007 20 100 Average Days on Market 5/1/2007 0.1 0.6 -20.0% 0.0% 9/1/2007 1/1/2008 Pending in 7 5/1/2008 Median DOM Days or Less 9/1/2008 1/1/2009 73.6% 5/1/2009 0.4% 9/1/2009 4.2% 1/1/2010 5/1/2010 9/1/2010 % Pending 7 Days or Less 1/1/2011 5/1/2011 1 9/1/2011 1/1/2012 ASF 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 DAYS TO PENDING HISTORIC
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 Average DOM Baseline as compared to 2022 38 32 DAYS TO PENDING AVERAGE BASELINE 22 27 36 20 24 25 29 21 21 21 22 24 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Average Days on Market is the average length of time it takes from the date the property is listed until the property receives a contract for purchase from a buyer, and the property is shifted to a Pending status. This metric does not include the time from being placed in the pending status to the closing date.
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 20222 Median DOM Baseline as compared to 2022 18 5 12 4 8 4 7 7 8 8 9 10 11 13 15 DAYS TO PENIDNG MEDIAN BASELINE Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Median Days on Market is the length of time it takes for 50% of homes receives a contract for purchase from a buyer, and the property is shifted to a Pending status. This metric does not include the time from being placed in the Pending status to the Closing date.
Greater Metro Denver Single Family Attached ASF INSEAvReraTge DTayEs oXn TMarHketEbyRPrEice Range March 2022 279 5.0M+ 4.0-5.0M AVERAGE DAYS ON MARKET BY PRICE RANGE 3.0-4.0M 69 2.0-3.0M 8 1.5-2.0M 7 1.0-1.5M 21 800-999K 26 600-799K 12 400-599K 14 200-399K 8 0-199K 5 All Prices 12 Average Days on Market by price range shows that nearly all homes under $1,000,000 are pending within 3 weeks. Buyers need to move quickly as demand remains at historically high levels.
DSFAVERAGE DAYS ON MARKET BY ZIP CODE ASF 50 14 3 Zip codes in red are the most competitive for buyers looking to purchase. Days to Pending have reached as low as 6 days in many zip codes.
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 % Properties Pending in 7 Days or Less Baseline as compared to 2022 73.2% 73.6% PENDING IN 7 DAYS OR LESS BASELINE 60.1% 58.2% 58.3% 55.5% 55.4% 52.9% 48.9% 46.1% 46.2% 43.5% 40.5% 35.7% 38.2% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec This is the percentage of units that went under contract within one week of being listed. Again, the faster homes sell, the larger and more competitive the pool of potential buyers is for properties in Metro Denver. Historically the fastest months are represented by those homes listed in March, April and May.
Greater Metro Denver Single Family Attached ASF Pending in 7 Days or Less by Price Range March 2022 5.0M+ 0.0% 50.0% 100.0% PENDING IN 7 DAYS OR LESS BASELINE 4.0-5.0M 0.0% 52.5% 3.0-4.0M 90.9% 2.0-3.0M 62.2% 1.5-2.0M 1.0-1.5M 76.2% 800-999K 67.2% 600-799K 400-599K 82.9% 200-399K 70.7% 0-199K 73.6% All Prices It is more likely than not to see properties up to $1,000,000 under contract in less than 1 week.
DSF ASF 42.3% 80.3% 100% PENDING IN 7 DAYS OR LESS BY ZIP CODE In Metro Denver there are zip codes where 100% of homes are likely to sell in less than 7 days when reviewing all zip codes 73.6% are pending after the first weekend of being on market.
SOLD PRICE & RATIOS.
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 Metric 1/1/2005 Greater Metro Denver Attached Residential Average and Median Sold Price 4/1/2005 Current 7/1/2005 MOM 10/1/2005 YOY 1/1/2006 4/1/2006 18.9% 9.0% 5.3% $492,416 $421,000 Price Average Sold Median Sold 7/1/2006 10/1/2006 15.3% Price 1/1/2007 4/1/2007 7/1/2007 Average Sold Price 10/1/2007 1/1/2008 Median Sold Price 4/1/2008 7/1/2008 10/1/2008 1/1/2009 4/1/2009 7/1/2009 10/1/2009 1/1/2010 4/1/2010 7/1/2010 10/1/2010 1/1/2011 4/1/2011 7/1/2011 10/1/2011 1/1/2012 4/1/2012 7/1/2012 10/1/2012 1/1/2013 4/1/2013 7/1/2013 10/1/2013 1/1/2014 4/1/2014 7/1/2014 10/1/2014 1/1/2015 4/1/2015 7/1/2015 10/1/2015 1/1/2016 4/1/2016 7/1/2016 10/1/2016 1/1/2017 4/1/2017 7/1/2017 10/1/2017 1/1/2018 4/1/2018 7/1/2018 10/1/2018 1/1/2019 4/1/2019 7/1/2019 10/1/2019 1/1/2020 4/1/2020 7/1/2020 10/1/2020 1/1/2021 4/1/2021 7/1/2021 10/1/2021 1/1/2022 SOLD PRICE ASF
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 Median Monthly Price Change Baseline as compared to 2022 5.0% AVERAGE SOLD PRICE CHANGE BASELINE 4.9% 5.3% 3.3% 2.1% 1.9% 1.4% 0.3% 0.8% 0.4% 0.8% -0.8% -0.9% -0.3% -1.1% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec This shows how prices ebb and flow based on seasonal selling cycles. When the values are above 0% home prices are rising month over month, conversely when the numbers are below 0% home prices are falling back. Historically the bulk of appreciation is established by properties closing between February through June.
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 Median Monthly Price Change Baseline as compared to 2022 5.0% MEDIAN SOLD PRICE CHANGE BASELINE 4.9% 5.3% 3.3% 2.1% 1.9% 1.4% 0.3% 0.8% 0.4% 0.8% -0.8% -0.9% -0.3% -1.1% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec This shows how prices ebb and flow based on seasonal selling cycles. When the values are above 0% home prices are rising month over month, conversely when the numbers are below 0% home prices are falling back. Historically the bulk of appreciation is established by properties closing between February through June.
DSF ASF $1,481,939 $701,800 $336,181 AVERAGE SOLD PRICE BY ZIP CODE Zip codes in red are likely to become increasingly more competitive if interest rates continue to rise due to a shift in affordability.
85.0% 90.0% 95.0% 100.0% 105.0% 110.0% Metric 1/1/2006 Greater Metro Denver Attached Residential Average Close to List and Original to Closed Price 4/1/2006 Current 7/1/2006 List/Close Price Ratio Original/Close Price Ratio MOM 10/1/2006 YOY 1/1/2007 4/1/2007 4.2% 4.6% 2.0% 2.1% 105.9% 7/1/2007List to Close Original to Close 10/1/2007Price Ratio Price Ratio 105.8% 1/1/2008 4/1/2008 7/1/2008 ASF 10/1/2008 1/1/2009 4/1/2009 7/1/2009 10/1/2009 1/1/2010 4/1/2010 7/1/2010 10/1/2010 1/1/2011 4/1/2011 7/1/2011 10/1/2011 1/1/2012 4/1/2012 7/1/2012 10/1/2012 1/1/2013 4/1/2013 7/1/2013 10/1/2013 1/1/2014 4/1/2014 7/1/2014 10/1/2014 1/1/2015 4/1/2015 7/1/2015 10/1/2015 1/1/2016 4/1/2016 7/1/2016 10/1/2016 1/1/2017 4/1/2017 7/1/2017 10/1/2017 1/1/2018 4/1/2018 7/1/2018 10/1/2018 1/1/2019 4/1/2019 7/1/2019 10/1/2019 1/1/2020 4/1/2020 7/1/2020 10/1/2020 1/1/2021 4/1/2021 7/1/2021 10/1/2021 1/1/2022 AVERAGE CLOSE TO LIST AND ORIGINAL PRICE RATIOS
Greater Metro Denver Single Family Attached Average 2013-2021 ASF 2022 % of Close to List Price Ratios Baseline as compared to 2022 105.9% LIST TO CLOSEPRICE RATIO BASELINE 103.9% 102.0% 100.8% 100.8% 99.7% 100.2% 100.6% 100.5% 100.2% 99.9% 99.6% 99.6% 98.8% 99.4% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec This is the percent of asking price received by the seller from the closed transaction. If this number is over 100% it means that multiple offers were likely at that of time of year. This number is usually highest in the late spring-early summer months as a result of multiple offers due to low supply and more buyer activity.
Greater Metro Denver Single Family Attached ASF Percent of Close to List Ratio Price by Days on Market March 2022 107.7% 5.0M+ 65.2% 97.7% 4.0-5.0M 3.0-4.0M 107.1% CLOSE TO LIST PRICE RATIO BY PRICE RANGE 2.0-3.0M 106.6% 1.5-2.0M 104.6% 106.5% 1-1.5M 106.1% 800-999K 105.9% 600-799K 102.2% 400-599K 105.9% 200-399K 0-199K All Prices Average Close to List Prices this month indicated that multiple offers were to be expected for the bulk of homes under $1,500,000. Even in super luxury markets offers made by buyers were very strong.
DSF ASF 100.2% 106.5% 112.3% AVERAGE CLOSE TO LIST PRICE RATIO BY ZIP CODE The highest Close to List price ratios are found around the inner-ring, landlocked suburbs.
Greater Metro Denver Single Family Attached ASF Percent of Close to Original List Price by Price Range March 2022 All Prices107.4% 200-399K 400-599K 600-799K 800-999K 100.6% 110.0% 100.0% 101.1% 105.0% 99.0% 98.5% 100.0% 96.0% 95.0% CLOSE TO ORIGINAL PRICE RATIO BY PRICE RANGE 90.0% 0-7 Days 8-14 Days 15-21 Days 22-28 Days 1-2 Months 2-3 Months 3 Months or More Pricing strategies remain paramount in this market. With only one chance at making a good first impression based on location, condition and price buyers are often unwilling to take a second look even after a price reduction. When homes are priced right the first time they sell faster and for more money.
INTEREST RATES AND AFFORDABILITY.
$- 0.00% $500.00 $1,500.00 $2,000.00 $2,500.00 $1,000.00 Metric 1/1/2005 with 10% Down Payment for Principle and Interest Payments Only Greater Metro Denver Attached Residential Interest Rate Based on Median Sold Price 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 34.7% 14.9% $2,187 P&I Payment 1/1/2007 5/1/2007 1.0% 0.4% 4.17% 30 Year Fixed 9/1/2007 Interest Rate 1/1/2008 5/1/2008 P&I Payment 9/1/2008 1/1/2009 30 Year Fixed Interest Rate 5/1/2009 9/1/2009 8.00% 1/1/2010 5/1/2010 9/1/2010 1/1/2011 5/1/2011 9/1/2011 1/1/2012 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 INTEREST RATES AND AFFORDABILITY HISTORIC 2.00% 5.00% 7.00% 1.00% 4.00% 6.00% 3.00% ASF
$100,000 $500,000 $700,000 $1,100,000 $1,300,000 Greater Metro Denver Attached Residential Total Amount Paid over 30 Year Term Based on $300,000 $900,000 30 Year Fixed Interest Rate with a 10% Down Payment Metric 1/1/2005 Total Paid Over Lifetime of Loan 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 33.6% 14.4% 5.3% 0.41% $ 829,293 $ 421,000 4.17% Total Paid Over Median Sold 30 Year Fixed 1/1/2007 Lifetime of Loan Price Interest Rate 5/1/2007 15.3% 9/1/2007 1/1/2008 1.00% 5/1/2008 Median Sold Price 9/1/2008 1/1/2009 4.00% 30 Year Fixed Interest Rate 5/1/2009 8.00% 9/1/2009 1/1/2010 5/1/2010 9/1/2010 1/1/2011 5/1/2011 9/1/2011 1/1/2012 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 INTEREST RATES AND AFFORDABILITY HISTORIC 0.00% 3.00% 7.00% 2.00% 6.00% 1.00% 5.00% ASF
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Metric 1/1/2005 30 Year Fixed Interest Rate with a 10% Down Payment Greater Metro Denver Attached Residential Total Amount Paid over 30 Year Term Based on 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 34.7% 14.9% P&I Payment 1/1/2007 P&I Payment $2,187 5/1/2007 9/1/2007 5.9% 3.3% % of Income for 1/1/2008 Average P&I 5/1/2008 Payment 9/1/2008 1/1/2009 25.1% 5/1/2009 9/1/2009 1/1/2010 % of Income for Average P&I Payment 5/1/2010 9/1/2010$500.00$900.00$1,100.00 $1,500.00 $1,700.00 $2,100.00 ASF 1/1/2011$700.00 $1,300.00 $1,900.00 5/1/2011 $2,300.00 9/1/2011 1/1/2012 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 INTEREST RATES AND AFFORDABILITY HISTORIC
-20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% Metric 1/1/2005 % of Income for Average P&I Payment Appreciation vs. % of Household Income Dedicated to P&I Payments Greater Metro Denver Attached 5/1/2005 Current 9/1/2005 MOM 1/1/2006 YOY 5/1/2006 9/1/2006 5.9% 3.2% 1.00% 3.3% 1.9% 0.41% 25.1% % of Income for Median Sold 30 Year Fixed 1/1/2007 Median Sold Price YOY Change P&I Payment Appreciation Interest Rate 5/1/2007 15.3% 9/1/2007 1/1/2008 4.17% 5/1/2008 9/1/2008 1/1/2009 30 Year Fixed Interest Rate 5/1/2009 9/1/2009 1/1/2010 5/1/2010 9/1/2010 1/1/2011 5/1/2011 9/1/2011 1/1/2012 5/1/2012 9/1/2012 1/1/2013 5/1/2013 9/1/2013 1/1/2014 5/1/2014 9/1/2014 1/1/2015 5/1/2015 9/1/2015 1/1/2016 5/1/2016 9/1/2016 1/1/2017 5/1/2017 9/1/2017 1/1/2018 5/1/2018 9/1/2018 1/1/2019 5/1/2019 9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 INTEREST RATES AND AFFORDABILITY HISTORIC ASF 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%
Total Purchasing Power by Interest Rate for a Monthly Principal and $607,831 $587,318Interest Payment of $2,245 $568,181 $650,000 $549,920 $532,490 $600,000 $515,847 $500,000 $550,000 $484,808 $470,287 $500,000 $456,401 $443,119 $450,000 $430,410 $418,243 $400,000 $406,593 $395,432 $384,737 $374,484 INTEREST RATES AND AFFORDABILITY PURCHASING POWER $350,000 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 5.75% 6.00%
MULTIPLE OFFER ANALYSIS.
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Current Metric Under Asking Full Price Over Asking 1/1/2013 Greater Metro Denver Attached Residential Multiple Offer Analysis MOM 5/1/2013 YOY 9/1/2013 1/1/2014 12.9% 5/1/2014 -18.7% 9/1/2014 -11.6% 1/1/2015 5/1/2015 13.3% 9/1/2015 -2.5% 1/1/2016 -10.5% 5/1/2016 9/1/2016 73.8% 1/1/2017 Over Asking 21.2% 5/1/2017 22.0% 9/1/2017 1/1/2018 5/1/2018 Full Price 9/1/2018 1/1/2019 Under Asking 5/1/2019 9/1/2019 ASF 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021 1/1/2022 MULTIPLE OFFER ANALYSIS HISTORIC
Greater Metro Denver Single Family Attached ASF Multiple Offer Analysis by Price Range March 2022 Over Asking Full Price Under Asking 37.5% MULTIPLE OFFER ANALYSIS BY PRICE RANGE 54.5% 50.0% 56.1% 78.8% 75.1% 74.4% 75.0% 75.0% 73.8% 100.0% 35.0% 18.2% 17.1% 50.0% 27.5% 12.3% 12.1% 12.8% 27.3% 26.8% 25.0% 13.3% 8.8% 12.9% 12.8% 12.9% 16.7% 0-199K 200-399K 400-599K 600-799K 800-999K 1-1.5M 1.5-2.0M 2.0-3.0M 3.0-4.0M 4.0-5.0M 5.0M+ All Prices With 76.0% of all Attached Single Family homes selling for at or over their last asking price buyers looking for a ‘deal’ are likely to come up empty handed.
DSF ASF 30.8% 76.5% 100% MULTIPLE OFFERS BY ZIP CODE Areas in red are where the most aggressive contracts are being written and accepted. The inner and outer ring suburbs are seeing the most multiple offers.
Search
