Metro Denver/Boulder – February 2023

We’re in the thick of the Great Rebalancing Act of 2023. Buyers and sellers are adapting to the market’s
shifts. So typical of the winter markets we experienced between 2013-2019, just like football, our area is
in pre-season mode:

  • Inventory remains light as sellers prepare to list this spring.
  • Buyers with an “early bird get the worm” approach is on the hunt.
  • Expect activity to pick up around or after the Super Bowl.

So naturally, demand is on the rise again. Sure, it’s far less activity than we saw at the beginning of 2022,
even if we have more inventory along the Front Range (year-over-year). But the seller’s odds for success
are simply returning to what typically happens before the Spring Frenzy. As our market thaws over the
next few weeks, we’ll see more of inventory go under contract each month.
“But wait!” you may be asking, “interest rates just went up?!?” Homebuyers are taking advantage of the
rate-reducing products out there, like 3/2/1 Buydowns,(learn more) and have more negotiating power
with motivated sellers. So with less competition right now, if you were priced out last year, you may be
able to afford to purchase. Don’t get “scared out” of the market by using alarming headlines to guide
your decisions. Lenders offer old and new incredible products that can save you thousands of dollars. If
you need a lender, I have a number of excellent recommendations (lenders I have worked with on
various transactions).
When will interest rates go down? Interest rate update.
Sellers, welcome to a more traditional approach to listing your home! Expect your home to take longer
to get the right offer and succeed by closing near or at the asking price. As your local, boots-on-the-
ground expert, I will help you use all the right tactics to boost your listing: home improvements, staging,
excellent marketing, and more. The closer we get to spring, your negotiating power will increase. I am
available to determine the best approach to preparing, pricing, and timing your sale so it meets your
goals and needs.
Remember, there’s no “perfect market” to make a move. If you’re financially, physically, and mentally to
list, purchase, upgrade, or invest – don’t wait for the “bottom.” Let’s get started as soon as possible to
increase your chances of success.
Sources: Denver Metro Association of REALTORS®& Megan Aller, First American Title

Detached Single FamilyYear to Year
Jan ’22Jan ’23% change
Active Listings7882,893267.13%
New Listings2,3761,950-17.93%
Closed Price Median599,050595,000-0.68%
Closed Price Average688,895702,2891.94%
Days on Market1949157.89%
Months Supply of Inventory1.553.39118.71%
Average Percent of Original List Price102.19%97.98%-4.12%
Sales Volume1,403,967,2481,002,868,249-28.57%
Month to Month
Dec ’22Jan ’23% change
Active Listings3,4072,893-15.09%
New Listings1,1781,95065.53%
Closed Price Median600,000595,000-0.83%
Closed Price Average705,451702,289-0.45%
Days on Market45498.89%
Months Supply of Inventory2.263.3950.00%
Average Percent of Original List Price98.29%97.98%-0.32%
Sales Volume1,429,948,7831,002,868,249-29.87%
AttachedYear to Year
Jan ’22Jan ’23% change
Active Listings3961,227209.85%
New Listings1,109908-18.12%
Closed Price Median400,000397,000-0.75%
Closed Price Average451,695449,319-0.53%
Days on Market223872.73%
Months Supply of Inventory1.453.48%-97.60%
Average Percent of Original List Price102.00%98.54%-3.39%
Sales Volume467,052,166275,432,746-41.03%
Month to Month
Dec ’22Jan ’23% change
Active Listings1,3501,227-9.11%
New Listings55290864.49%
Closed Price Median409,000397,000-2.93%
Closed Price Average470,955449,319-4.59%
Days on Market38380.00%
Months Supply of Inventory2.21%3.48%57.47%
Average Percent of Original List Price98.72%98.54%-0.18%
Sales Volume403,608,263275,432,746-31.76%

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