At Colorado Real Estate School, we’re committed to providing you with the valuable information you need to thrive as a real estate agent. The primary way we deliver on this commitment is by offering the highest quality online real estate courses available in Colorado. However, we also want to provide you with up-to-date information regarding the latest trends in the local real estate market.
To help you stay on top of the way the market is trending, we’re going to begin posting a monthly real estate market roundup blog providing you with all the data and insights necessary to understand how real estate is performing in Denver and throughout the state.
Based on the recent data released by REColorado:
Based on the recent data released by the Colorado Association of Realtors:
The market in both the Denver metro area and statewide experienced some traditional holiday slowing, with fewer new listings and fewer closings than in previous months. However, the market is still strong with listings under contract up 13% from December 2022 and an additional week of inventory compared to the same time last year. In addition, the number of listings pending sale indicates that we could see a lot of home closings take place over the next few months.
Despite interest rates still being higher than in the past three years, they did fall slightly in December, which potentially spurred more properties going under contract. We’re starting to see a market that is becoming more balanced between buyers and sellers. Both have something to like or dislike. Sellers are enjoying low inventory levels which are supporting home values. The 30-year mortgage rate, which reached an average high of 7.79% in late October 2023, continues to drift lower and is now at 6.6% (as of January 24, 2024). This is bringing more buyers into the market.
Median prices were down 3% from November 2023, but only down slightly from December 2022. In addition, buyers throughout the Denver metro area are successfully negotiating pricing again after the bidding wars that took place when we experienced historically low interest rates a few years ago. The data from REColorado indicated that more than 50% of homes closing in November 2023 sold for less than the original list price.
All our real estate courses are delivered in an online format, making it easy to work through the materials at your own pace based on your schedule and unique learning style. We offer the most comprehensive real estate course content available and work with local, licensed real estate professionals who develop our courses. This gives you the insider insights necessary to understand the ins and outs of the real estate industry. In addition, our VideoConnect Success Learning System™ contains he largest library of instructor-led video content in the industry and provides an authentic classroom experience.
When you choose Colorado Real Estate School, you’ll benefit from our unwavering commitment to your success. All our courses are backed up by our exclusive TruSupport Pass Guarantee™. If you don’t pass your Colorado real estate exam on the first try, you’ll receive extended access to all course materials. You’ll also be paired with one of our instructors who will analyze your test results with you to identify the specific subjects and concepts you struggled with. Based on this information, we’ll help you develop a study plan that emphasizes the areas where you need the most support. This ensures you focus your energy on the subjects necessary to improve your score and pass the exam on your next try.
Contact us today to learn more about our online real estate courses.
