Denver Market Update [MLS Data Error?]

Early today, we published a cute market update video from ReColorado, the Denver area MLS. The video was for the Denver metro area and in aggregate, it looks similar to what happened in Boulder County last month. 

Now here's the catch. The data release from the Denver MLS was delayed for January, for undisclosed reasons. When it finally showed up, attached dwellings have been further broken out into town home and condo subcategories. In theory, this is a very good thing but unfortunately, the historic data now looks wrong. For now, this means you can't trust any changes shown from previous years. 

Single family house data looks more or less correct - with the exception of pending sales.  I'll explain that further, below. 

Here's our analysis of the City of Denver, single family: 

626 new listings hit the market last month, about 1.7% above the three year average for January and down 11.7%, year over year (YoY). 

There were 507 homes available for purchase last month (i.e. active listings), 7.3% below the three year average and down 28.3%, year over year. 

According to the MLS, 466 properties were in pending status (i.e. under contract) last month. This is 28.6% below average and down 31.3%, year over year.  See the note below. 

455 homes sold last month in the City of Denver, 2.9% above average for January and up 10.7%, year over year. 

Note: The pending sales data is highly suspect and doesn't make much sense given the Denver metro analysis and our own Boulder County analysis. I've contacted the MLS for an explanation. 

Osman Parvez  is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.

Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.

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