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Denver Metro Update: December 2024 Housing Market Highlights

As 2024 concluded, the Denver Metro real estate market exhibited notable trends, providing valuable insights for renters, buyers, and sellers. 🏑 This overview presents the latest data on single-family rentals (SFRs), home appreciation, and market dynamics.

Rental Market Overview

In December 2024, the median leased price for rentals in the Denver Metro area was $2,100, reflecting a slight year-over-year increase of less than 1%. πŸ“ˆ Rental activity saw a 6% decrease compared to December 2023, yet there was a 13% uptick from November, indicating seasonal demand fluctuations. The active rental inventory tightened by 19% from November to December, suggesting a competitive market for prospective renters. πŸ”

Home Appreciation and Market Activity

The housing market continued its upward trajectory, with the median closed price for homes reaching $580,000 in December 2024β€”a 6% increase from the previous year. πŸŽ‰ Sellers introduced 1,889 new listings, marking a 9% rise year-over-year. Buyers remained active, closing on 13% more homes than in December 2023. 🏠 Homes spent a median of 41 days on the market, 11 days longer than the same period last year, indicating a slight shift toward a more balanced market. βš–οΈ

Inventory Levels and Seasonal Trends

December experienced a seasonal slowdown, with new listings decreasing by 31% from November. πŸ“‰ Despite this, the year ended with 6,888 active listingsβ€”46% more than January 2024β€”providing buyers with a broader selection as they enter 2025. πŸšͺ Detached single-family homes comprised 67% of the available properties, while condos and townhomes made up the remaining 33%. 🏒🏘️

 

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Comparative Insights

Denver’s 6% year-over-year price appreciation aligns with trends in other rapidly growing markets. πŸ“Š The city’s rental prices, with a median of $2,100, are higher than the national average, reflecting its desirability and robust economy. πŸ’° However, the increase in active listings suggests a move toward a more balanced market, offering opportunities for both buyers and sellers. πŸ”„

Key Takeaways for Renters, Buyers, and Sellers

For Renters: The rental market is competitive, with decreasing inventory. 🏘️ Acting swiftly on available listings is crucial, especially for single-family homes. ⚑

For Buyers: Stabilizing home prices and increased inventory provide a favorable environment to explore options and negotiate deals. 🀝

For Sellers: While the market remains strong, longer listing periods necessitate strategic pricing and marketing to attract buyers. πŸ“ˆ

Why Denver Remains a Top Market

Denver’s balanced growth in both rentals and home prices underscores the city’s enduring appeal. 🌟 With a strong job market, vibrant community, and access to outdoor activities, Denver continues to be a prime destination for individuals and families alike. 🏞️ Whether you’re looking to invest, buy your dream home, or sell for top value, Denver offers abundant opportunities. πŸš€

Ready to Make Your Move? Let’s Connect!

As a seasoned Denver Metro real estate expert with over 20 years of experience, I’m here to guide you through the market with confidence. πŸ’Ό Visit my blog at vidabroker.com/rogelios-blog for more insights. Let’s connect to start your search and make 2025 that big year for you and your family! I’m at πŸ“ž720-724-8187. You can also set your appointment online.πŸ“ž -Rogelio Rodriguez

 

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REFERENCES

    • RM Pro Local. (December 19, 2024). Metro Denver Real Estate Market Update – December 2024.

    • Zillow. (2024). Denver, CO Housing Market: 2024 Home Prices & Trends.

    • Denver Metro Association of Realtors. (January 2025). Market Trends Report: December 2024 Data.Β 
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