Digging Deeper: Year-to-Date Zip Code Report

The DMAR Market Trends Committee examined the year-over-year changes in average close price, median close price, number of closed transactions and days in MLS by zip code.

August 3, 2021

Key Points

The numbers reflected in this report should be framed in the proper context. 2020’s numbers reflect the significant impact of COVID-19 shutdowns. When comparing or contrasting 2020 to 2021, expect to see abnormally high changes.

When looking at the first half of the year, it appears the mountain communities are experiencing sky-high gains. Nabbing the top spot was the zip code 80433 (Conifer) posting a jaw-dropping 41.5 percent year-over-year increase in median close price. Coming in with the third-highest gain was 80439 (Evergreen) at a 34.9 percent increase in median close price.
For the first time in this report’s history, all 90 metro area zip codes posted an increase in year-over-year median close price.
34 of the 90 metro area zip codes experienced median price growth of 20 percent or higher and 79 of 90 seeing price growth of 10 percent or higher. This demonstrates robust growth in most of the metropolitan areas.
Along with prices, the number of closed transactions is also up. 82 of 90 zip codes closed more homes this year than last.
80216 (Globeville & Swansea) posted the largest percentage increase in closings of 122.9 percent. Again, the devil is in the detail. 80216 generally closes fewer homes, then factor increased sales from a newer development will create big increases.
Four zip codes - 80216, 80202, 80218, and 80230 (all located in or near downtown Denver) posted an increased number of closings over 100 percent. This represents a recovery from when COVID-19 was pushing sales away from the city centers towards the suburbs.
There is no question that homes are selling faster than at any other time. Days in MLS is the primary measure of how fast homes sell with 33 of 90 zip codes averaging 10 days or less. Compare that to zero zip codes last year. 56 of 90 zip codes saw drops of 50 percent or greater.
Two zip codes in Highlands Ranch - 80130 (East Highlands Ranch) and 80126 (Central Highlands Ranch - Back Country) saw the highest percentage drop of 77.8 and 76.9 percent, respectively.