11 County Metro Wide Statistics for January 2023

The overall message to take from January 2023 was that all our statistics were down. Sold properties closed were down 30% from January 2022. Median closed prices for single-family homes were down 2% while the average days on market increased 30 days from 5 days in January 2022. The takeaway for sellers is that inventory is still low, keeping upward pressure on prices, however, that is kept in check with mortgage interest rates hovering around 6 to 6.25%. The circumstances are leading to buyers exercising their power to negotiate. The market is still a way from being a balanced market, but it is slowly moving in that direction. Check out the video clip from the REColorado MLS and be sure to follow us on Instagram (toddregroup), LinkedIn (Dave Todd), Facebook (ToddREGroup) and Twitter (toddregroup).

January 2023 Denver Metro Market Trends


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