The mid-year Denver Market reports are in!
After several years as a blazing hot seller’s market, 2019 is definitely the year that the market’s creeping back toward buyers.
The number of listings have increased, as have home prices, albeit less than in recent years’ past. This means that buyers have more homes to choose from and sellers have more competition.
Collectively, new listings increased by 6.5 percent to 36,424 new listings for the first six months of this year compared to the same period in 2018. In addition, total dollar volume and average prices were up, too, 2.3 percent and 2.5 percent, respectively.
The average Denver metro home price for the first six months of 2019 was $479,274. It’s getting up there!
As you may have heard through media buzz, the average number of days for homes on market increased, too.
This means sellers had their homes on the market longer and that buyers have some leverage heading into the fall.
A neighborhood story
Many neighborhoods saw increased real estate activity in the first half of the year, with Observatory Park the standout.
The southeast Denver neighborhood saw 49 properties sold this year in that period, compared to 33 over the same period a year ago.
The High End
When it comes to the luxury market, (homes over $1 million), the number of homes sold year-over-year in the first half of 2019 increased by 7.5 percent.
The average days on market for this segment held roughly steady at 80 days from 2018 to 2019.
If you have any questions about selling or buying in Denver, I would love to hear from you.