milehimodern market report // Q3 - 2021

mi le h i m oder n mar ket report DENVER + BOULDER

Q.3

2021

ushering in autumn It’s no secret that Colorado’s highly sought-after climate, landscape and job opportunities have caused exponential growth on the Front Range in the past decade, but nothing could have prepared us for the surge in demand that occurred in the past twelve months. Year over year, the median sales price for the state increased by 16.63% — a number that may have been influenced by both incoming residents and everdecreasing inventory.

However, across the board, buyers saw increased inventory throughout the summer months, and with it brought a minor plateau in average closed prices.

Although this factor may have deterred sellers from listing their homes in the past, savvy brokers understand that this historical moment in the industry leaves little room to depend on past criterion. Seasoned buyers that have held out for the perfect home since earlier this year may be ready to take the plunge with decreased competition in the winter months.

Sellers can also take advantage of this upcoming season by investing in making their homes stand out. Repairs — both cosmetic and structural — can be assessed at this time without the long waits imposed by contractors that are typical of summer renovations. With specialized funding, such as Curate by mhmlending, sellers are able to invest in elevating their homes; potentially resulting in a higher value at the closing table.

Carmelo Paglialunga + Carla Thompson milehimodern owners

ENDLESS FORM TONAL TEXTURE

S O P H I S T I C AT E D C O M F O R T S TAT S

J U LY

AUGUST

SEPTEMBER

Colorado Median Price

$526,000

$520,000

$520,000

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.

J U LY

S TAT S

Active

2,878

28.10%

Sold

4,123

22.30%

$699,795

17.20%

8

66.70%

Average Sold Price Days on Market

AUGUST

S TAT S

YOY

YOY

Active

2,469

25.30%

Sold

3,974

16.20%

$687,768

14.30%

10

56.50%

Average Sold Price Days on Market

SEPTEMBER

S TAT S

YOY

Active

2,803

7.80%

Sold

3,711

20.00%

$688,629

15.20%

13

40.90%

Average Sold Price Days on Market

denver

J U LY

S TAT S

Active

345

52.10%

Sold

431

16.8%

$1,042,325

31.80%

27

34.10%

Average Sold Price Days on Market

AUGUST

S TAT S

YOY

YOY

Active

330

51.60%

Sold

351

28.50%

$960,412

13.20%

35

14.60%

Average Sold Price Days on Market

SEPTEMBER

S TAT S

YOY

Active

331

46.80%

Sold

390

5.30%

$925,348

12.10%

34

10.50%

Average Sold Price Days on Market

boulder

DENVER U LT R A - L U X U R Y

+

BOULDER

$2M+

Q2 TO Q3

Active

543

16.15%

Under Contract

139

9.09%

Sold

135

6.65%

$2,984,648

2.77%

53

5.63%

Average Sold Price Days on Market

LUXURY

$1M-$2M

Q2 TO Q3

Active

930

28.49%

Under Contract

551

12.34%

Sold

605

5.45%

$1,335,507

0.18%

19

36.84%

Average Sold Price Days on Market

PREMIER

$500K-$1M

Q2 TO Q3

Active

3,411

41.59%

Under Contract

3,762

1.48%

Sold

4,034

5.74%

$655,171

0.83%

13

7.69%

Average Sold Price Days on Market

q3 average

6 B AT H

Named the 2014 Builder’s Association Home of the Year, this home is equally parts impressive and comfortable.

4 BED

Classic elements are celebrated in this timeless East Wash Park home situated only two blocks from Washington Park. Light-filled interiors combine with modern updates and fine finishes to make this home perfect for relaxing and entertaining. Residents enjoy countless upgrades and amenities, including Control-4 Smart Home System with security and an elevator, whole house water filtration, Healthy Climate Steam Humidifier and a PremierOne whole house air purifier.

5,235 SQFT

542 south williams

who we are 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 .