Here are the 7-county Metro Denver RE Stats for February courtesy of REColorado and SMDRA—
· 2,675 closings happened last month, down just 18% from last year.
· Like January the biggest drop in sales was for attached homes with 780 closings, down 28.1% from last year.
· 1,895 detached homes sold last month, down 13.2% from last year
· Closings increased by 33% from January.
· 3,527 properties went under contract last month, down just 8.2% from last year’s insane market.
· 1,039 attached homes went under contract last month, down 13.5% from last February.
· 2,488 detached homes went under contract last month, down only 5.7% from a year ago.
· Pendings were up 11.4% from January.
· 3,335 homeowners listed their homes for their first time in January down 18.7% from a year earlier.
· We saw 1,015 new listings of attached homes down 18.7% from last year.
· We had 2,320 new listings of detached homes also down 18.7% from last year.
· New listings increased by 19.6% from January with detached homes leading the way with an increase of 23%.
· New listings of attached homes only rose by 12.3% from January.
· We ended February with 3,816 properties for sale, an increase of roughly 100% from the last 2 Februarys, but DOWN 2.3% from January. This is unusual.
· This puts months of inventory at 1.43 months.
· Average sold prices last month were $646,054, an increase of 0.8% from last February, but prices ROSE by 4.8% from January. WOW!
· Average sold prices for attached homes was $464,652, an increase of 2.8% from last February and an increase of 4.7% from January.
· Average sold price for detached homes was $646,054, an increase of 0.8% from last February and an increase of 4.8% from January.
· Median sold prices last month were $556,250, a drop of 2.8% from last February, but an increase of 4% from January.
· Median sold prices for attached homes was $400k, flat from last year, but up 2.6% from January.
· Median sold prices for detached homes was $600k, down 5.1% from last year, but up 1.7% from January.
· The average closed to original list price ratio rose to 96.4% last month up from 94.5% in January. This number was an absurd 104.5% last year when homes were a hotter commodity than toilet paper during the spring of 2020 as Covid ravaged our country.
· The average closed to original list price ratio for attached homes in February was 97.1%, up from 96% in January.
· The average closed to original list price ratio for detached homes in February was 96.1%, up from 93.9% in January.
· The median closed to original list price ratio overall was 97.6%, up from 95.8% in January.
· The median closed to original list price ratio for attached homes was 98% up from 97.3% in January.
· The median closed to original list price ratio for detached homes was 97.4% up from 95.5% January.
· The average price per square foot overall was $318.77 and up 3.4% from $308.31 in January. This is down from $337.66 or 5.6% from last February.
· The average price per square foot for attached homes was $309.86 and up by 3.4% from $299.68 in January, but down by 6.5% from $331.37 last year.
· The average price per square foot for detached homes was $340.41 or by 3.7% from $328.28 in January, but down from $350.30 last year which is a 2.8% drop.
· The average days in market was 48 in February up from 14 days a year ago and up 2 days from January.
· Detached homes spent an average of 49 days on the market the same as January.
· Attached homes spent an average of 44 days on the market up from 40 days in January.
· The median days in market was 26 in February up from 4 days last year, but DOWN 9 days from January.
· Attached homes spent a median of 22 days in market in February down from 29 days in January.
· Detached homes spent a median of 27 days in market in February down from 37 days in January.
· The fewest median days in market by price range was $300k to $400k at 16 days.
· The highest median days in market under $1 million was the price range of $500k to $600k with 36 days in market.