report
milehimodern market
DENVER + BOULDER Q.1 2024
seeking the highest representation
With the first three months of 2024 in the rearview, it is clear that the oncoming season is bound to be an exciting time to buy or sell real estate in Colorado. Decreased inventory paired with increased time that homes spent on the market illuminate an ever-evolving market — one in which buyers and sellers alike must continue to craft competitive strategies for successful outcomes. Our brokers are consistently recognized for the maverick mindset necessary for client wins, and it shows with our recent achievement as DMAR’s #1-Ranking Brokerage for Sides + Production Among Offices of 101-200 brokers. milehimodern’s dedication to representing our clients at the highest levels is more apparent now than ever before.
As the buying and selling landscape continues to evolve, we are thrilled to provide market insight with this edition of the mhm Quarterly Market Report. Through this resource, our goal is to equip our clients with the knowledge of trends and seasonality so that they can make informed decisions, bringing them closer to their 2024 real estate goals.
As we transition into the competitive spring and summer months, the seasonal nature of the real estate market becomes more pronounced. Buyers are advised to act swiftly as market activity intensifies, while sellers should seek representation from top-tier professionals to showcase their homes effectively. At milehimodern, our commitment to exceptional service enables us to navigate successfully through every market shift. We are honored to serve the vibrant communities that we proudly call home.
Thank you for allowing us to serve you!
Carmelo Paglialunga + Carla Thompson milehimodern owners
STATS
Colorado Median Price
The above Colorado data is based on counties statewide. The following Denver data is based on eleven counties in the Denver Metro Area: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park. The following Boulder data is based on Boulder County.
SIMPLISTIC
ARTFUL ABUNDANCE
BEAUTY GRANDIOSE GRACE
$548,950
$558,900 MARCH $576,945
JANUARY
FEBRUARY
denver
JANUARY Active Sold Average Sold Price Days on Market STATS 3,336 1,478 $734,836 50 YOY 15.3% 3.0% 4.5% 2.0% YOY 43.2% 2.0% 3.4% 6.1% YOY 24.7% 8.4% 4.8% 0.0% FEBRUARY Active Sold Average Sold Price Days on Market STATS 3,748 2,084 $753,920 46 MARCH Active Sold Average Sold Price Days on Market STATS 3,944 2,626 $779,981 39
MARCH Active Sold Average Sold Price Days on Market STATS 361 246 $975,814 57 YOY 5.6% 12.8% 15.6% 14.0% YOY 41.6% 32.7% 11.7% 3.8% JANUARY Active Sold Average Sold Price Days on Market STATS 262 150 $1,047,982 76 FEBRUARY Active Sold Average Sold Price Days on Market STATS 313 212 $1,091,732 57 YOY 26.7% 72.4% 6.2% 8.1%
boulder
q1 average DENVER + BOULDER
Active Under Contract Sold Average Sold Price Days on Market $2M+ 754 138 93 $2,970,396 83 Q4 TO Q1 21.01% 24.70% 8.24% 7.78% 14.00% Q4 TO Q1 13.74% 29.66% 0.09% 0.31% 6.83% Q4 TO Q1 25.34% 27.46% 3.72% 0.26% 12.00% LUXURY Active Under Contract Sold Average Sold Price Days on Market $1M-$2M 1,455 515 381 $1,329,694 54 PREMIER Active Under Contract Sold Average Sold Price Days on Market $500K-$1M 5,109 2,833 2,304 $667,300 50
ULTRA-LUXURY
milehimodern (mhm) is Colorado’s premier real estate brokerage focused on the artistry of living.
We believe in connection first; every home has a soul-filled story to tell.
Our purpose is to bring this story to light by discovering the artistic sizzle, the iconic value, the extraordinary architecture, or simply the narrative of a beautiful life lived in each property.
Let us tell your story.
This data is collected from the following sources: Colorado Association of Realtors®, Denver Metro Association of Realtors® + REcolorado®. This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete. ©MileHiModern All Rights Reserved | 303.876.1073 milehimodern.com | MileHiModern® is a licensed trademark | An Equal Opportunity Company | Equal Housing Opportunity
who we are