While the 2017 housing market was marked by renewed Prices: Home prices were up compared to last year. The
optimism fueled by stock market strength, higher wages and a overall median sales price increased 7.7 percent to $408,000
competitive environment for home sales, 2018 delivered a for the year. Single Family Detached home prices were up 7.3
more seasoned prudence toward residential real estate. Home percent compared to last year, and Single Family Attached
buyers, now steeped in several years of rising prices and low home prices were up 11.1 percent.
inventory, became more selective in their purchase choices as
housing affordability achieved a ten-year low. Percent of Sold Price to List Price: Sellers received, on
average, 99.9 percent of their original list price at sale, a year-
Yet the appetite for home buying remained strong enough to over-year reduction of 0.1 percent. If demand shrinks in 2019,
drive prices upward in virtually all markets across the country. the Percent of Sold Price to List Price metric could drop as
In fact, national home prices have risen 53 percent from well.
February 2012 to September 2018. That mark is a less
dramatic but still sizable 40 percent increase when inflation is Consumer optimism has been tested by four interest rate hikes
factored in. by the Federal Reserve in 2018. Meanwhile, GDP growth was at
4.2 percent in Q2 2018, dropped to 3.4 percent in Q3 2018 and
The national median household income was last reported with is expected to be about 2.9 percent in Q4 2018 when figures
a year-over-year increase of 1.8 percent, while home prices are released.
have gone up 5.5 percent in roughly the same amount of time.
That kind of gap can't be sustained indefinitely, but prices are Looking strictly at market fundamentals, recent Fed and GDP
still expected to rise in most areas, albeit at a much slower changes will not cause a dramatic shift away from the current
pace. state of the housing market. The booming sales at increased
prices over the last several years may not be the same thrill ride
Under Contract Listings: Under Contract sales decreased to observe in 2019, but a long-awaited increase in inventory is
4.2 percent to 66,497 to close out the year. something positive to consider, even if it arrives in the form of
shrinking demand amidst rising mortgage rates.
Sold Listings: Sold Listings decreased 4.2 percent to 55,963
to finish the year. A booming economy would seem to indicate The biggest potential problem for residential real estate in 2019
more sales, but fewer homes to choose from coupled with might be human psychology. A fear of buying at the height of
lower affordability made it tougher for buyers in 2018. the market could create home purchase delays by a large pool
of potential first-time buyers, thus creating an environment of
declining sales.
Listings: Year-over-year, the number of homes available for
sale was higher by 50.4 percent. There were 5,802 active If the truth of a positive economic outlook coupled with
listings at the end of 2018. New listings increased by 2.3 responsible lending practices and more available homes for
percent to finish the year at 67,958. sale captures the collective American psyche, the most likely
outcome for 2019 is market balance.
Lender-Mediated Properties: The foreclosure market
continues to be a hint of its former unhealthy peaks. In 2018,
the percentage of closed sales that were either foreclosure or
short sale decreased by 35.9 percent to end the year at 0.3 Table of Contents
percent of the market.
3 Quick Facts
Showings: Demand began to taper in 2018. There were 5 Property Type Review
227,996 total showings in the region, culminating in 10
showings before pending, which was down 9.1 percent 6 Lender-Mediated Review
compared to 2017.
7 Price Range Review
8 Showings Review
9 Area Overviews
11 Area Median Prices
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 2
2018 Annual Report on the REcolorado® Housing Market
Quick Facts
New Listings Under Contract Listings
65,948 66,399
65,072
67,254 67,472
62,382 66,497
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Top 5 Areas: Change in New Listings from 2017 Top 5 Areas: Change in Under Contract Listings from 2017
Bennett + 88.8% Bennett + 127.9%
Deer Trail + 59.6% Kiowa + 68.3%
Kiowa + 42.3% Idaho Springs + 53.5%
Commerce City + 34.6% Deer Trail + 30.5%
Idaho Springs + 32.3% Cherry Hills Village + 18.2%
Bottom 5 Areas: Change in New Listings from 2017 Bottom 5 Areas: Change in Under Contract Listings from 2017
Edgewater - 12.1% Edgewater - 21.3%
Sedalia - 20.4% Larkspur - 21.6%
Larkspur - 24.0% Elbert - 26.7%
Elbert - 28.6% Sedalia - 28.6%
Henderson - 56.3% Henderson - 52.0%
58,412
5,802
56,095 56,138 55,963 4,355 4,385 4,265 3,858
54,004
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Top 5 Areas: Change in Sold Listings from 2017 Top 5 Areas: Change in Active Listings from 2017
Bennett + 57.8% Byers + 350.0%
Byers + 52.8% Northglenn + 220.0%
Idaho Springs + 39.7% Boulder + 118.2%
Kiowa + 30.6% Strasburg + 90.0%
Indian Hills + 17.4% Lafayette + 70.0%
Bottom 5 Areas: Change in Sold Listings from 2017 Bottom 5 Areas: Change in Active Listings from 2017
Larkspur - 24.7% Wheat Ridge - 49.2%
Elbert - 26.5% Elbert - 50.0%
Federal Heights - 27.5% Pine - 50.0%
Sedalia - 34.1% Deer Trail - 70.0%
Henderson - 49.5% Idaho Springs - 70.0%
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 3
2018 Annual Report on the REcolorado® Housing Market
Quick Facts
Median Sold Price* Average Sold Price*
$408,000 $471,357
$379,000 $433,859
$349,500 $398,917
$314,000 $362,846
$275,000 $325,546
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Top 5 Areas: Change in Median Sold Price from 2017 Top 5 Areas: Change in Average Sold Price from 2017
Franktown + 30.5% Indian Hills + 38.3%
Indian Hills + 19.9% Greenwood Village + 16.7%
Bailey + 14.3% Longmont + 15.4%
Idaho Springs + 13.6% Larkspur + 13.0%
Deer Trail + 13.5% Bailey + 12.5%
Bottom 5 Areas: Change in Median Sold Price from 2017 Bottom 5 Areas: Change in Average Sold Price from 2017
Henderson - 0.1% Superior + 0.4%
Byers - 0.6% Deer Trail + 0.4%
Elbert - 4.1% Pine - 2.1%
Superior - 5.6% Bennett - 4.0%
Bennett - 11.8% Elbert - 13.6%
99.3%
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Top 5 Areas: Change in Total Days on Market from 2017 Top 5 Areas: Change in Pct. of Sold to List Price from 2017
Indian Hills + 219.0% Edgewater + 1.9%
Henderson + 31.7% Idaho Springs + 1.2%
Longmont + 25.5% Conifer + 0.7%
Littleton + 13.6% Strasburg + 0.7%
Brighton + 13.4% Bennett + 0.4%
Bottom 5 Areas: Change in Total Days on Market from 2017 Bottom 5 Areas: Change in Pct. of Sold to List Price from 2017
Lafayette - 21.0% Northglenn - 0.6%
Louisville - 22.9% Longmont - 0.7%
Conifer - 23.4% Franktown - 0.8%
Idaho Springs - 32.3% Indian Hills - 1.7%
Sedalia - 40.5% Federal Heights - 2.2%
* Does not account for seller concessions and/or down payment assistance.
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 4
2018 Annual Report on the REcolorado® Housing Market
$440K
$410K 99.3% 100.1%100.0% 99.9% 99.8% 99.3% 100.7% 100.7% 100.4% 100.1%
$380K
$347K
$306K $300K
$270K
$240K
$212K
$180K
Single Family Detached Single Family Attached Single Family Detached Single Family Attached
* Does not account for seller concessions and/or down payment assistance.
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 5
2018 Annual Report on the REcolorado® Housing Market
Lender-Mediated Review
Top Areas: Lender-Mediated Market Share in 2018
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 6
2018 Annual Report on the REcolorado® Housing Market
$200,001 to $1,000,001
$300,000 and Above 1.4% + 36.7%
Price Range with Price Range with of Active Listings One-Year Change
Shortest Average Longest Average at Year End Priced in Active Listings Priced
Total Days on Market Total Days on Market $150,000 and Below $150,000 and Below
2%
$300,001 to $500,000 21
$500,001 to $1,000,000 37 1%
28,450 28,184
25,175
14,205 14,620
11,974 12,397
9,540
8,756
3,740
2,207 2,581 2,041
1,354 1,612 1,271 1,656
750
$150,000 and Below $150,001 to $200,000 $200,001 to $300,000 $300,001 to $500,000 $500,001 to $1,000,000 $1,000,001 and Above
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 7
2018 Annual Report on the REcolorado® Housing Market
Showings Review
Top 10 Areas: Number of Showings
31,000
Parker 11,279
Lakewood 10,356
28,500
21,000
Centennial 20
Cherry Hills Village 19
18,500 Greenwood Village 19
16,000
Evergreen 18
Northglenn 18
13,500 Highlands Ranch 18
11,000
Larkspur 17
12-2015 12-2016 12-2017 12-2018 Westminster 17
227,996 Total Showings in 2018 March '18 Peak Showing Activity Month
8.0
7.7
7.1
6.6 6.3
6.0 5.6 5.6 5.6 5.3
4.0
2.0
0.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 8
2018 Annual Report on the REcolorado® Housing Market
Area Overviews
Percent Percent
Total Sold Change From Single Family Lender- Showings Under Contract Total Days Pct. of Sold
Listings 2017 Attached Mediated per Listing Listings on Market to List Price*
* Does not account for seller concessions and/or down payment assistance.
** In 2018, REcolorado experienced a substantial increase in subscribers in certain Northern Colorado areas who requested mass entry of historical sold listings. As a result, percent increases in sold
listings do not reflect true market conditions.
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 9
2018 Annual Report on the REcolorado® Housing Market
Area Overviews
Percent Percent
Total Sold Change From Single Family Lender- Showings Under Contract Total Days Pct. of Sold
Listings 2017 Attached Mediated per Listing Listings on Market to List Price*
* Does not account for seller concessions and/or down payment assistance.
** In 2018, REcolorado experienced a substantial increase in subscribers in certain Northern Colorado areas who requested mass entry of historical sold listings. As a result, percent increases in sold
listings do not reflect true market conditions.
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 10
2018 Annual Report on the REcolorado® Housing Market
Cherry Hills Village $1,725,000 $1,607,000 $1,765,000 $1,950,000 $1,957,500 + 0.4% + 13.5%
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 11
2018 Annual Report on the REcolorado® Housing Market
Aurora Association of REALTORS® $274,000 $310,000 $345,000 $375,000 $400,000 + 6.7% + 46.0%
Current as of January 29, 2019. All data from REcolorado®. © 2018 REcolorado. All rights reserved. REcolorado® is a registered trademark of REcolorado. Report © 2018 ShowingTime. | 12