2020 – A Time for Breaking Denver Real Estate Records

November 7, 2020

Denver area real estate records are being broken left and right as a result of the effects of COVID-19.
The front range remains one of the most desired areas of the country to live in but available housing is sparse. No other time in Denver metro area history has this level of undersupply existed.  It is truly the wild, wild west in the Denver Metro residential real estate market right now.
Here is a list compiled by the Denver Metro Association of Realtors of recent records broken:

ACTIVE LISTINGS

  • (Residential) 4,821 represents the lowest October on record.
    The previous low was in 2016 of 6,731.
  • (Detached) 2,643 represents the lowest October on record.
    The previous low was in 2017 of 4,720.

CLOSE PRICE — MEDIAN

  • (Residential) $475,000 represents the highest amount on record.
    The previous record was $460,000 recorded in July, August, & September 2020.
  • (Detached) $519,900 represents the highest amount on record.
    The previous record was in September 2020 of $510,000.
  • (Attached) $339,425 represents the highest amount on record.
    The previous record was in September 2020 of $335,000.

CLOSE PRICE — AVERAGE

  • (Residential) $561,999 represents the highest amount on record.
    The previous record was $540,890 recorded in July 2020.
  • (Detached) $625,100 represents the highest amount on record.
    The previous record was in August 2020 of $602,264.
  • (Attached) $393,733 represents the highest amount on record.
    The previous record was in September 2020 of $384,902.

DAYS IN MLS — MEDIAN

  • (Residential) 6 days represents the lowest October on record.
    The previous low was in 2015 of 10 days.
  • (Detached) 6 days represents the lowest October on record.
    The previous low was in 2015 of 11 days.

DAYS IN MLS — AVERAGE

  • (Residential) 24 days represents the lowest October on record.
    The previous low was in 2015 of 25 days.
  • (Detached) 23 days represents the lowest October on record. The previous low was in 2015 of 27 days.

NEW LISTINGS

  • (Attached) 2,022 represents the highest October on record.
    The previous high was in 2019 of 1,657.

CLOSED

  • (Residential) 5,984 closed transactions represent the highest October on record. The previous high was in 2019 of 5,144.
  • (Detached) 4,352 closed transactions represent the highest October on record.
    The previous high was in 2019 of 3,709.
  • (Attached) 1,639 closed transactions represent the highest October on record.
    The previous high was in 2017 of 1,461.

MONTHS OF INVENTORY (MOI)

  • (Residential) 0.81 months represents the lowest number on record.
    The previous record low was in September 2020 of 0.91 months.
  • (Detached) 0.61 months represents the lowest amount on record.
    The previous record was in September 2020 of 0.72 months.

UNDER CONTRACT

  • (Residential) 6,141 pending transactions represent the highest October on record. The previous high was in 2017 of 6,062.
  • (Detached) 4,337 pending transactions represent the highest October on record. The previous high was in 2017 of 4,330.
  • (Attached) 1,804 pending transactions represent the highest October on record. The previous high was in 2017 of 1,732.

SALES VOLUME

(Residential) $3,363,002,016 sales volume represents the highest October on record and the fourth-highest month all time.
The previous high October was in 2019 at $2,487,936,752.
July of 2020 is the all-time record at $3,965,805,480.

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