Posted On: January 23rd, 2021 12:07AM
December was VERY MERRY for the Denver area real estate market! Normally December is the slowest month of the year... but because of COVID, our 2020 market was topsy-turvy! Sellers had visions of fat equity gains, with our continuing high prices (13% higher than December of 2019.) But buyers got some goodies too, in the form of 18% more new listings than the previous year and crazy low interest rates helping them with their purchasing power.
Despite a few news stories forecasting the contrary, so far our market in 2021 is continuing in this jolly state. The downside is our persistent lack of inventory has made the buying process intensely competitive.
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