So let’s look at real estate data from the last three years in Thornton (80229). This is for all price ranges for single-family residences for all square footage, bedrooms, baths, etc. The median closed price was $297,750 and as we get closer to 2021 you see the upward trend in closing prices. In March of this year, the median closed price is up to $365,000.
(Click to enlarge images)
As far as the monthly supply of homes for sale, we can also see a huge drop from 2018 of right around 1.5 months inventory down to six tenths or roughly 18 days.
Another metric, the number of active listings, again showed a huge decline from January 2018 with a median of 75 active listings compared to 29 listings recorded in March 2021.
Median days on the market has actually been relatively low in the last three years with right around six days back in January 2018 to the most recent four days on the market before properties go under contract.
Let’s switch over to some tables starting with the last 90 days for single-family residences that closed for the area. We see the median sized home sold is three bedrooms with two baths and an above grade living area of 1377 square feet and a total size of 1745 square feet. The list price compared to the closing price is showing almost a 4% increase.
Now let’s compare a few areas in the Denver metro area for a 60-day trend leading up to April. We see the median days on the market is 4 days with the asking price at 380,000 but the closing price is all the way to $402,000 which’s 4.11% above the asking price showing how even hotter the market’s been lately.
Let’s look at this more current map showing the homes for sale in green and pending or properties under contract in orange. Really what we see is that there are a number of properties that do go on the market for sale, however, they go under contract pretty quickly so it looks like there is hardly any inventory.
Finally, let’s see how much are homeowners asking to sell their homes? This is the list of the only homes that were shown active for sale in the MLS on April 21st, 2021. Other than the manufactured home, the starting price is $375,000 for a three-bedroom one-bathroom home of only 1,000 total square feet. There is no doubt this is an extreme seller’s market.
Data Source: REcolorado®