The average days on market for a home in central Denver last year was 28 days. That number fluctuates at different price points. We divided the total number of home sales from last year (2,635 homes total) into equal quarters:
The fourth quarter, the luxury quarter of the market (homes over $830,000), sat on the market twice as long as the average of the bottom three quarters of the market.
We then looked at the fluctuation of average days on market throughout the year:
The seasonal trend shows that homes sold in January sat on the market longest on average at 43 days, or 50% longer than the annual average, and almost 3 times longer than the shortest month, June, which was 15 days. Expensive homes that sold in January sat on the market longest with average days on market of 69 days.
As we approach the prime selling season for 2018, you can see that declining days on market will benefit homes at all price points about equally.