August 2021 showed a slowdown in inventory and activity from July which is consistent with traditional seasonality as people come back from vacations and prepare for the school year and the fall. Buyers continue to benefit from low-interest rates and constantly replenishing inventory. There is plenty of opportunity for buyers willing to be patient in order to find the right home at the “right” price.
Seller Pro Tip
If you are thinking of selling over the next few months, let’s talk about getting professional photos of your home now before the yard is covered in snow.
Buyer Pro Tip
If you are buying in a unique situation, whether with less money down or a longer close period, let’s discuss properties that have been on the market longer than a week.
August 2021 Stats:
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Avg Sales Price for Denver Metro: $687,768
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Avg Days on Market: 10
Compared to July 2021 (1 Month):
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Avg Sales Price was $699,795 (↓ 1.72%)
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Days on Market was 10 (↑ 2 days or 25%)
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Inventory ↓ 11.69%
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Closings ↓ 13.97%
Compare to August 2020 (1 Year):
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Avg Sales Price was $606,330 (↑ 13.43%)
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Days on the Market was 23 (↓ 13 days or 57%)
I am actively helping both buyers and sellers successfully and happily navigate this market. DM, text, call, or email me anytime if you’re thinking of making a move or have any questions.
Data source: DMAR Real Estate Market Trends Report
