2014 Year in Review – Denver Real Estate

UpwardsWhew…What a year 2014 was! The realty market here in Denver continued at a breakneck speed. All signs are pointing to continued appreciation and overall success for 2015.

In all honesty, as grand as 2014 was, 2013 seemed to be a busier year – at least to me it did. I took the time this week to compare the two years – I hope you’ll find this information as fascinating as I did. (Now, keep in mind that this is for the 7-county Denver metro area which includes Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson Counties).

If you’re interested in something more specific to your city or neighborhood or perhaps something more broad, just contact me by clicking here.

  • January of 2013 provided a total of 2,626 closings versus 2,591 closings in 2014. However, the total dollar volume in 2013 was $728,546,910 compared to $790,149,010 in 2014.
  • February of 2013 – 2,973 closings compared to 2,959 in 2014. Dollar wise, February of 2013 totaled $829,112,955 compared to $879,382,388.
  • March of 2013 sales were 4,139 with $1,232,993,861 in volume.March of 2014 equated to 3,807 closed deals for a total of $1,190,306,417 in volume.
  • April of 2013 – 4,646 deals for $1,447,936,733. April of 2014 – 4,486 deals for $1,461,257,397 in volume.
  • May of 2013 – 5,473 transactions for a total of $1,700,437,180 compared to 5,284 deals and $1,769,245,212 in May of 2014.
  • June of 2013 – 5,463 transactions for $1,747,957,694 in production. June of 2014 – 5,684 deals for $1,914,390,481.
  • July of 2013 – 5,753 sales for $1,844,752,144 compared to July of 2014 – 5,567 sales for $1,871,830,945.
  • August of 2013 – 5,408 deals for $1,697,452,968 compared to August of 2014 – 5,113 sales for $1,683,752,033 in dollar volume.
  • September of 2013 – 4,434 sales for $1,364,065,201. September of 2014 – 4,829 sales for $1,539,488,342
  • October of 2013 – 4,245 sales for $1,286,064,043. October of 2014 – 4,681 sales for $1,521,036,348
  • November of 2013 – 3,571 sales for $1,085,102,575 compared to 3,684 sales for $1,213,805,338 in November of 2014.
  • December of 2013 – 3,649 sales for $1,118,341,684 in production. December of 2014 – 3,930 sales for $1,334,739,085 in volume.

Okay, I know that’s a ton of numbers to digest… here’s the breakdown. There were 235 more sales in 2014 than 2013 (52,615 compared 52,380). However, there was almost a $1.1 billion dollar difference in production. $16,082,763,948 for 2013 compared to $17,169,382,996 in 2014. This data confirms what I’ve been saying for quite some time… INVENTORY IS LOW AND PRICES ARE INCHING UP.

If you’ve been thinking of selling, now is the time to do so. For a free market analysis of your home’s value, please click here or call me at 303.570.8561