Denver Market Stats: November 2024
What: Denver market stats for November are now available! Download and post the social media graphic to stay in front of your people, or link to the blog post for a deeper dive into the numbers.
Sharing on Social Media:
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- Download and post the graphic with the message: Between the Thanksgiving holiday and a big snowstorm blowing into town, November was a slower month for real estate. However, easing rates gave sales and home prices a small boost year-over-year. Details at bit.ly/denverstats-nov24 or get in touch to chat!
Snapshot: In November, 1,954 detached listings came on market compared to 3,363 in October. While that was a steep drop, it was still nearly 3% higher year-over-year. In addition, 2,281 homes went under contract which was an increase of 28.94% over 2023. Due to Denver’s robust housing inventory, the median home price actually decreased slightly from $650,000 in October to $639,000 in November, though it was still enough to beat out the median price for 2023 by a modest 1.9%.
Did You Know? Last month, the Denver City Council passed a measure allowing accessory dwelling units (ADUs) in all residential zones. This increases the land area where ADUs can be built from 36% to 70% of Denver’s total residential land. The measure goes into effect on December 16.