Denver Metro’s real estate rush by the numbers

While the last year certainly kept consumers on the edges of their seats with the many ebbs and flows of the real estate market, Denver Metro turned what could have been a tragedy of a year into a success story for real estate performance.

Each year, LIV Sotheby’s International Realty produces a year-end Micro Market Report, which summarizes Denver Metro’s market performance last year compared to the previous year. For 2020, the report paints a picture of strength and resilience through appreciating home values, rising property sales, and accelerating market speeds.

With the pandemic at the forefront of consumers’ minds, communities that offer a lifestyle that prioritizes health and socially distant recreation options, such as Denver Metro, became the hottest commodity in real estate. This sparked a second rush in the West, but this time people flocked here in search of homes instead of gold. As a result, the number of listings sold here in 2020 increased by an impressive 13.5{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} from 2019, totaling 61,107 homes sold. But with inventory levels dwindling, decreasing by 2{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c}, the market struggled to satisfy the demand for Denver Metro homes.

This intense demand paired with the area’s shrinking inventory placed buyers in stiff competition

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