Whats Next For Denvers Housing Market

Dated: 03/02/2018

Views: 34

The metro area market has been making news for years with its remarkable post-Great Recession rebound. Will the trend continue in 2018?

BY  |   

Statistics are no substitute for a crystal ball, but Denver’s 2017 real estate market data provides some hints for what to expect in 2018.


According to Steve Blank, managing broker of LIV Sotheby’s International Realty’s downtown office, that data suggests that Denver’s market should stay healthy—yet remain a seller’s market—this year.


Blank’s firm studies home listings and sales data from the Multiple Listing Service REcolorado to create its annual Colorado Micro Market Report; the data represents about 90 percent of all local real estate transactions. And, Blank notes, those numbers paint a pretty clear picture for the coming year: “It’s steady growth; we’re not expecting the bottom to fall out,” he says. “Denver isn’t in a bubble.”



Denver housing prices have increased every year—between 9.5 and 11 percent—since 2012, according to Blank. “Last year, [prices] were up between 8 and 9 percent, which is still extremely good,” he says, “but I think it’s indicative of an inventory issue—and I don’t see that changing until the second half of 2018; I think we can expect a bit more inventory as the year wears on. But I don’t expect a high percentage of more properties sold, because the supply is still not there.”


In 2017, total new listings were down ever so slightly, falling .5 percent to 60,907 homes, according to the report. That was driven by an 8.2-percent decrease in condominium listings (driven by “a real shortage in condo development,” Blank says), as 6.2 percent more single-family homes were listed in 2017 than in the previous year. But values are still increasing, with the average sales price in the Denver metro area up 8.1 percent to $428,237.


The luxury market’s performance is especially telling, Blank says. The number of new listings of homes priced at $1 million or more was up 11 percent, total sales volume increased by 20 percent, yet values only increased by .4 percent. “That means the gap is closing,” he says.


But in some coveted neighborhoods, values continue to soar. The following hotspots saw average values increase by more than 15 percent in 2017: Bonnie Brae/Belcaro, Bow Mar South, Cherry Hills Village, City Park, Country Club, Crestmoor, Downtown, Hilltop, Observatory Park, Platte Park, and Washington Park West. But Blank cautions that because the number of sales within these neighborhoods is relatively small, the data shouldn’t be compared with the market on the whole.

Blog author image

Damon Pajaud

My focus is on truly being your partner through the home buying and selling process. I'm proud to say I love what I do and it shows in my work ethic and commitment to helping you reach your goals. I'm....

Latest Blog Posts

Top Improvements Homeowners Make

You could say that Americans tend to be a little obsessed with self-improvement. (OK, maybe a lot.) So it’s no surprise that we’re also a little – OK, a lot – obsessed with

Read More

What Does The Denver Broncos Have To Do With Real Estate

$23,000,000 1800 Triple Creek Ranch Road, Silverthorne, CO 80498This beautiful private luxury ranch sitting on approximately 255 acres is being sold in Summit County and a price of $23 million

Read More

Ways To Pay Off Mortgage Early

Most of the ways to pay off a mortgage early are quite simple. If you're approached by a finance company that wants you to pay in order to learn the secrets behind paying off your mortgage early,

Read More

Homes More Affordable Today Than 1995 Through 2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.However, it is not just the price of

Read More