february 2020 - land title guarantee company · 2020-03-10 · february 2020 –greater metro...

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Greater Metro Denver Update

with Local Insights

February 2020

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February 2020 – Greater Metro Denver

Table of Contents

Overview• Highlight Reel• DisclaimerMarket Snapshot • DSF & ASF | DSF | ASFActive Listings• DSF & ASF | DSF | ASFMonth Supply of Inventory (MSI)• DSF & ASF | DSF | ASFDays on Market (DOM)• DSF & ASF | DSF | ASFActive & Sold by Price Range• DSF & ASF | DSF | ASF

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Data and reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market.

Sold Units• DSF & ASF | DSF | ASFSold Units Year to Date• DSF & ASF | DSF | ASFAverage Sold Price • DSF | ASF% Sold to List • DSF | ASF


Highlight Reel

• Overall, inventory is tighter starting the year: down 24% or 1,258 fewer homes on the market in February 2020 compared to last February. The Greater Metro Denver market is back to inventory levels seen 2016 to 2018 (see active listing analysis for details).

• Extremely low interest rates are increasing buyer’s purchasing power, expect strong buyer demand, increasing average sold prices and more inventory to hit the market in March.

• The $500-599 is in high demand posting a 41% increase year-over-year in sold units and 0.98 Month Supply of Inventory down 36% year-over-year.

• The year started strong with sold units up 4.3% year-over-year. DSF sold units up 0.2% while ASF sold units up 13.5% year-over-year.

• Average sold price continues to climb for Detached Single Family (DSF) at $535,006, up 5.9% year-over-year, and with Attached Single Family (ASF) also increasing currently at $366,072, up 4.5% year-over-year.

• Average Days in MLS decreased by 6 days month-over-month to 38 days, an 2.7% increase year-over-year.


Interest Rates Impact on Affordability

YEAR 1980 1990 2000 2007 2010 TODAY

Average Rate 13.75% 10% 8% 6.35% 4.70% 3.29%

Price of Home able to Afford $296,160 $386,547 $456,176 $530,252 $624,441 $725,490

*Mortgage payment is based off 20% down estimate of property taxes and homeowner's insurance, No HOA fee using this mortgage calculator

Impact of Low Rates: A buyer’s purchasing power has greatly improved thanks to extremely low mortgage rates. The chart below is based off a $3,000 monthly payment.

https://www.nerdwallet.com/mortgages/how-much-house-can-i-afford/calculate-affordability


Market Snapshot – DSF & ASF


Market Snapshot – DSF


Market Snapshot – ASF


Active Listings Analysis – DSF & ASF

Talking Points• 4,000 total homes on the market, a 24% decrease year-over-year

or 1,258 fewer active listings• Inventory increase during 2019 reaching a peak of 8,528 homes for

sale in August of 2019. This years start out with a similar level of active listing to 2018.

• Arapahoe County had largest month-over-month decrease in active listings, down 11%

5,258

3,8063,6043,6324,000


Active Listings Analysis – DSF

Talking Points• 2,542 Detached Single Family (DSF) homes on the market, a 27%

decrease year-over-year

• Douglas County had the most active listings with 662


Active Listings Analysis – ASF

Talking Points• 1,458 Attached Single Family (ASF) homes on the market a 18%

decrease year-over-year

• Arapahoe County posted the largest year-over-year decrease, down 32%

February 2020 – Greater Denver Metro

Months Supply of Inventory – DSF & ASF

Talking Points• Months supply of inventory (MSI) decreased to .88 months, a decrease

of 28% year-over-year

• Adams County has the lowest MSI at 0.65months• Elbert County has the highest MSI at 1.55 months


Months Supply of Inventory – DSF

Talking Points• Months supply of inventory (MSI) decreased to 0.79 months, a decrease

of 30% year-over-year

• Adams County had the lowest MSI at 0.66 months• Elbert County has the highest MSI at 1.54 months


Months Supply of Inventory – ASF

Talking Points• Months supply of inventory (MSI) decreased to 1.07 months,

a decrease of 23% year-over-year

• Jefferson County has the lowest MSI at 0.58months• Elbert County has the highest MSI at 6.0 months


Days in MLS – DSF & ASF

Talking Points• Average Days in MLS (f.ka. days on market) was 38 days, a

year-over-year increase of 2.7%

• Jefferson County had the fewest Days in MLS at 33 while Broomfield had the most at 43.5


Days in MLS– DSF

Talking Points• Average Days in MLS (f.k.a. days on market) decreased to 35

days, a 18.6% decrease month-over-month

• Adams, Arapahoe and Denver all tied for the fewest Days in MLS at 32

Talking Points• Average Days in MLS (f.k.a. days on market) decreased to 41

days, a 8.9% decrease month-over-month and a 20.6% increase year-over-year

• Jefferson County had the fewest Day in MLS at 31


Days in MLS – ASF


Active & Sold by Price Range – DSF & ASF


Active & Sold by Price Range – DSF


Active & Sold by Price Range – ASF


MSI & DOM by Price Range – DSF & ASF


MSI & DOM by Price Range – DSF


MSI & DOM by Price Range – ASF


Sold Analysis – DSF & ASF

Talking Points• Sold units increased month-over-month by 13%

and increased 4.3% year-over-year

• Denver County had the most sold units this month with 917, up 7.5% year-over-year

• Douglas County was up 28% year-over-year


Sold Analysis – DSF

Talking Points• Sold units decreased month-over-month by 30.9%, up 5.9%

year-over-year

• Arapahoe County had the most sold units this month with 456, up 14.9% year-over-year


Sold Analysis – ASF

Talking Points• Sold units saw a increase month-over-month of 18.7%, up 13.5%

year-over-year

• Douglas County saw that greatest increase in sold units, up 65.5% year-over-year


Average Sold Price - DSF

Talking Points• Average sold price saw a 5.9% increase year-over-year• Douglas County had the highest average sold price of

$590,551, up 0.7% year-over-year

• Homes sold for an average of $29,774 more than this time last year


Average Sold Price - ASF

Talking Points• Average sold price for Attached Single Family homes was

$366,072, a 4.5% increase year-over-year

• Homes sold for an average of $14,947 more than last month


Sold Units YTD – DSF & ASF

Talking Points• Year-to-date sold units are up, 9.8% compared to

last year due to a strong 4th quarter


Sold Units YTD – DSF

Talking Points• Year-to-date sold units are up 5.9%

• Broomfield County boomed so far this year, up 18.1%


Sold Units YTD – ASF

Talking Points• Year-to-date sold units are up 19.0%

• Jefferson County saw the largest increase in year-to-date sold units, up 33.3%


% Sold to List Price – DSF

Talking Points• % Sold to List Price 99.6% an increase month-over-

month of 0.7%


% Sold to List Price – ASF

Talking Points% Sold to List Price 99.4% an increase month-over-month of 0.4%


Disclaimer & Terms

• Greater Metro Denver Area includes the following counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson

• Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market.

• Only available to REColorado® members

• Information deemed reliable but not guaranteed.

• © 2020 Land Title Guarantee Company. All rights reserved.

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february 2020 - land title guarantee company · 2020-03-10 · february 2020 –greater metro...

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