Inventory is slowly rising as sales slow
The Denver real estate market is showing a standard fall slowdown as October winds down.
The number of single-family Denver metro home listings rose 9.4% from August to September, while the number of single-family closings dropped 19.2% over that period, according to the October Denver Metro Association of Realtors Market Trends report.
The average days in MLS for single-family homes increased 11.5% to 29 days.
The average close price for single-family Denver metro homes rose slightly in September, from the previous month and year, 0.1% and 4.5%, respectively, to $780,214.
Source: October Denver Metro Association of Realtors Market Trends report
While the overall market has slowed, Central Denver neighborhoods remain in high demand by buyers. But the market has definitely become more balanced, with buyers having more options and feeling less pressure to move at light speed, as they felt as soon as the beginning of the year.
Buyers and sellers can achieve their goals no matter the market — it just requires a clear, smart strategy. Reach out to me to gameplan your strategy or just to discuss how the current market may impact your real estate needs.
Want help navigating on the changing Denver neighborhood real estate market? Email me at firstname.lastname@example.org