September 2019 Metro Denver Market Update
2019 Real Estate Market Different Than 2018
For the first half of 2018, many home sellers were getting multiple offers within a week of listing their homes and often selling above asking price. This year, buyers have had more time to house hunt while sellers have had to apply more caution when determining fair market value to entice buyers and avoid price reductions.
August’s vital statistics for all homes – detached single family (DSF) and attached single family (ASF) combined – include:
· The average price was down 1.3 percent from the previous month but up 3.5 percent from a year ago;
· Active listings were unchanged compared to the previous month but rose 13.6 percent from this time last year; and
· The average days on market increased 15.4 percent from the prior month and 30.4 percent from a year ago.
Relatively stable prices, lower interest rates and increased inventory have given buyers more purchasing and negotiating power. The good news for sellers is that homes that are in top condition and priced well are still in high demand and often receive multiple offers.
If you need any advice or assistance navigating our real estate market, contact me today at 303.710.5817 or firstname.lastname@example.org. I am never too busy for your referrals.
This update is based on information provided by the Denver Metro Association of Realtors® for the period of August 1, 2019, through August 31, 2019, for the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.