After a relative slowdown in July & August, September returned to the normal red-hot speed of today’s housing market. There remains heavy competition amongst buyers, while a slight uptick in inventory meant buyers had a few more options. With interest rates low and expected to increase, plus a seasonal increase in inventory, it is still a great time to buy!
Seller Pro Tip
If you have been waiting for the market to cool to purchase a replacement home, now may be the time. With an uptick in inventory and fewer active buyers, competition will be less now than if you wait for the spring.
Buyer Pro Tip
It is a great time to buy! Interest rates remain low and are expected to increase. Plus there is a seasonal increase in inventory. If you wait, it will cost you more money in the future to buy that home you are looking for.
Market Stats Denver Metro
Data source: DMAR Real Estate Market Trends ReportAverage Sales Price
- $618,293
- 0.77%
- 15.11%
Average Days on Market
- 13
- 18.18%
- 43.48%
Active Listings (Inventory)
- 3,971
- 10.86%
- 25.09%
Closed Sales
- 5,233
- 12.81%
- 19.27%
Key Takeaways:
- After a decline in the past 2 months, the average sale price is up.
- Active listings are staying on the market a little longer.
- Inventory is up a little, giving buyers more options to choose from.
- The lower number of closings coincides with low inventory in the past 2 months.
