What happened in 2024? What will happen in 2025?
By David Schlichter
We've been hearing from lots of clients who recently had babies, got new jobs, got married, got divorced, lost a loved one, became empty nesters, or experienced many of the other major life events that cause the desire or the need to move. For those who are thinking about making a move in 2025, there are LOTS of great homes for sale at the moment (see some of the featured listings below), and there isn't a lot of competition yet from other buyers. This is also a great time to be getting listings ready for the busier spring/summer market. Right now would be a great time to be in touch to get the ball rolling!
For those who are feeling content in your current home for 2025, we'd still love to hear from you, too! One of our favorite parts of our job is staying connected with you and celebrating all of your life updates, so please drop us a note and let us know what's new!
Finally, there are so many people right now in California who have lost their homes in the last few days, and it is heartbreaking to hear the stories of not just the loss of the homes themselves, but also everything they contained--the family photos, the kids' artwork, mementos passed down from prior generations, and so much more. While we are not based in California, here in Colorado we unfortunately are very familiar with how devastating these wildfires can be. If you'd like to support the victims of the California wildfires, please click here. Times like these not only remind us of the importance of our homes, but also the power of communities coming together to help each other in times of need.
Sending love, light, and our best wishes for a safe, happy, and healthy 2025.
Denver Metro Area Real Estate Market Update
What happened in 2024? As you know if you're a regular reader of these market updates, 2024 was a relatively slow year for the Denver real estate market. While sale prices were up 1.7%, days on market increased 50%. And while the number of new listings was up 12.4%, the number of homes sold only increased 0.7%. Buyers, accordingly, were able to exercise a lot more negotiating power in 2024 than they have been able to in years.
What will happen in 2025? Early indications suggest that this will be a year that will be more comparable to 2024 instead of one that is marked by ultra-low days on market, rapid price appreciation, and/or a high frequency of bidding wars. It is important to note that, though rates feel high compared to the unusually low rates of the pandemic, they are actually about three quarters of a percentage point lower than the historical average of the last 50+ years. If the pandemic taught us anything, it is that we never know what is around the corner--and anything (good or bad) could be coming our way.
These market conditions are complex, and working with a team of experts like ours is the best way to help navigate them. If you're thinking about making a move sometime soon, contact us today so we can make a customized plan to help you achieve your real estate goals!
Denver Metro Area: 2024 Market Snapshot
Included Counties: Adams | Arapahoe | Broomfield | Denver | Douglas | Jefferson
Source: REColorado and ShowingTime, residential, all property types, 2023 vs. 2024 [accessed 01/07/2025].
