With only 3,211 single family homes on the market as of mid-October and
Buyers: If you now is the time to re-engaged to buy with the threat of higher interest rates that are pending after the first of the year.
Sellers: If you decided to enter the market to sell, you most certainly are in the driver’s seat today. Getting your home ready to sell over the next 30 days will give you a high price with great terms to potentially stay in the home past the holidays.
At the end of the 3rd quarter, housing market indicators continued to reflect a competitive market with demand
from home shoppers that has rebounded from the pre-coronavirus level. Throughout the year, buyers have
scooped up listings quickly, in less than 2 weeks on average. Year to date more than half of available listing were
under contract with a prospective buyer in 4 days or less. Home prices began to level off over the last couple of
months. Still, they are 18% higher than 2020 year-to-date figures due in part to mortgage rates that remain low.
Closed listings are at a record high for this point in the year. The number of New Listings is down 4% from last
year at this time and 8% compared to two years ago, which is keeping inventory levels tight.
The Average Closed price for a home in the Denver Metro area was $618,367, 15% higher than September 2020. After two consecutive months of decreases, prices saw a slight month-over-month increase, up less than one percent.
The number of Closed homes in the Denver Metro area totaled , a 15% decrease as
compared to the record-high closings we saw last September. From a month-to-month
perspective, the market saw a seasonal decrease for the second consecutive month with
closings down 8% compared to August. The market remained active in September with
the count of listings in Pending status hitting 5,630, a seasonal 7% decrease from last month and 5% fewer than September 2020’s record high.
Are you wanting an update on your Home Valuation today? Call us today to get your FREE Real Estate View Today at 303.548.4422 or aoconnor@den100.com
