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Metro Denver Real Estate Market Update, February 25, 2021

It was just about a year ago that the first case of COVID-19 was discovered in Colorado. What was happening just before the pandemic began? How does it compare it to what’s happening now in each of the seven metro counties? Let’s take a look.

Average Prices by County:

Boulder Douglas Denver Arapahoe Jefferson Broomfield Adams
Jan 2020 $737,832 $630,952 $530,000 $470,300 $550,000 $550,000 $434,750
Jan 2021 $947,553 $714,556 $689,256 $653,685 $642,361 $585,159 $454,366
Change + 28.4% + 13.3% + 28.0% + 35.1% + 20.2% + 10.9% + 11.9%

Average Days On Market:

Boulder Douglas Denver Arapahoe Jefferson Broomfield Adams
Jan 2020 69 57 41 42 40 41 39
Jan 2021 55 24 24 21 20 21 18
Change – 20.3% – 57.9% – 41.5% – 50.0% – 50.0% – 48.8% – 53.8%

Average Percent of List Price Received:
This does not include seller concessions or down payment assistance.

Boulder Douglas Denver Arapahoe Jefferson Broomfield Adams
Jan 2020 97.4% 98.8% 98.7% 99.1% 98.8% 99.6% 99.4%
Jan 2021 99.1% 101.1% 100.7% 101.2% 101.2% 102.1% 101.7%
Change + 1.7% + 2.3% + 2.0% + 2.1% + 2.4% + 2.5% + 2.3%

Months Supply of Inventory:
This measures how long it would take to sell all the homes on the market if no other homes came on the market.

Boulder Douglas Denver Arapahoe Jefferson Broomfield Adams
Jan 2020 1.8 1.6 1.1 1.1 1.1 1.1 1.1
Jan 2021 0.6 0.4 0.3 0.2 0.3 0.3 0.3
Change – 66.7% – 75.0% – 72.7% – 81.8% – 72.7% – 72.7% – 72.7%

Prices are rising, days on the market are decreasing

The average closed price has gone up significantly in every county, while the time it takes to sell a home has decreased. There weren’t many homes for sale a year ago, and there are even fewer for sale now. Homeowners are enjoying the appreciation and sellers are receiving multiple offers, often going under contract for more than the asking price. It’s a great time to sell property. It may seem like a difficult time to buy – and it is, but we expect prices and interest rates to rise over the next year, so your dollars may go further now than if you wait.


Why pay more to sell your home?
See how much more you can earn when you sell your home for 1%.
Call David and Tom at The Principal Team at (720) 782-2468.

Based on data from the Colorado Association of REALTORS®

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