According to the year-end Micro Market Report, produced by LIV Sotheby’s International Realty, which summarizes Denver Metro’s market performance during 2020 in comparison to 2019, the Mile High City had a record year. While the city had a decline in inventory, dropping 2% from 2019 levels, bringing just 67,495 new listings onto the market last year, rising appreciation for available single family (+9.6%) and attached homes (+4%) paired with a boost in overall listings sold (+13.5%) contributed to the 22.4% increase in overall sales volume in 2020.
Heightened demand for Denver Metro homes placed buyers in stiff competition due to a limited number of listings last year. These conditions accelerated the timeline for many buyers and sellers, decreasing the average days on market for Denver Metro homes by 21.9%, from 32 days in 2019 to 25 days in 2020.