milehimodern’s q4 2023 + year-end market report: denver and boulder real estate statistics
milehimodern has just released the Q4 2023 + Year-End Market Report, a comprehensive catalog of real estate market statistics for the Denver and Boulder regions. Through this report, we aim to provide detailed insight into Denver and Boulder’s real estate markets so that buyers and sellers can make informed decisions in their home journeys.
driving growth in denver + boulder
This past year was a lesson in creativity and navigation as the market balanced and created increased competition between buyers and sellers alike. milehimodern adapted to these swift market shifts with innovative approaches that allowed us to grow our market share while the industry as a whole either plateaued or dipped slightly below the average. In 2023, we grew to 207 brokers, closed 1,867 transactions and achieved a remarkable $1.82B in sales volume. These figures underscore mhm’s mission to provide the highest representation and the magnetic draw of our brokers’ artistic lenses.
colorado’s real estate outlook — q4 2023
Since Q3 2023, buyers have seen a gentle reprieve from the heated summer and fall months with increased inventory and days on market across the board, but with luxury prices hovering slightly above last quarter’s average, Q4 was still a competitive time to seek a new home. As we shift into a new year, buyers may wish to revisit their offer and negotiation strategies with the help of an informed and savvy broker.
Like buyers, sellers may have to adapt their market strategies to stand out amongst increased levels of available inventory. Since last quarter, the days that homes priced above $2M spent on the market increased by 21.40%, while the Luxury Market and Premier Market saw a 41.33% and 34.09% increase, respectively.
buying and selling real estate in denver + boulder
Year over year, one constant has remained the same: buyers and sellers alike can find success in the competitive Colorado market with a combination of informed adaptability and the help of a skilled real estate broker. When compared to last year, home prices have hovered at or slightly above the average even though rates shifted between 6.48% and 7.79% throughout 2023. This indicates that buyers are still willing to compete for homes in the Centennial State; though sellers may need to highlight the remarkable features and the iconic value of their homes to stand out in the market.
To discover our previous marketing reports, visit our Quarterly Market Report page.
to stay in the know
Your dose of the coolest properties, seductive architecture, influential design, art that matters and community happenings.