Denver metro prices rolled into the new year in double digits

In a report released by the Denver Metro Association of Realtors in early February 2021, the imbalance between supply and demand had pushed annual home appreciation well into double digits.

In December the average price for a single-family home moved over $600,000. January did not hand the market back. Buyers were still competing for too few listings, and well-priced houses did not linger.

Double-digit gains make for a loud story. On a specific street they show up more quietly: a ranch that would have been a conversation the year before becomes a multiple-offer weekend. That is why a local read matters more than a metro average.

If you are pricing a sale or writing an offer, start with the last few comparable closings — not last year’s memory of them.