Hello everyone:
Below is an article that gives an overall view of what happened in Real Estate in 2022
2022 Statistics from Recolorado.com
Closed Prices
The median closed price of a residential property was 12% more than in 2021—and 55% higher than five years ago! In the Spring, buyers paid an average of 6.8% more than the original list price. However, home price growth did slow during the second part of the year as demand eased. The end of 2022 brought price reductions and sellers who were willing to accept offers lower than the original price they listed. In December, buyers paid an average of 5.7% less than the original list price.
The most active price range, in terms of closings in 2022, was $500-600,000, which represented 20% of all residential property sales. While closings decreased overall in 2022, there was an increase in sales in every price range above $700,000 as home prices remained high. Closings of homes priced above $700,000 increased 5% from 2021 to 2022.
Days in MLS
The pace of sales slowed considerably throughout the year. During the first part of 2022, contracts were executed on homes in a median of four to five days. As demand decreased in the second part of the year, median days in MLS increased significantly. In December, properties were actively for sale in the MLS for amedian of 31 days.
The link to the article is below and has additional information. Feel free to call and brainstorm with me.
Entire article: https://blog.recolorado.com/denver-metro-market-watch-2022-year-end-report/
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