The winds of change are blowing in the Denver Metro Area real estate market...or are they? Let's take a look!
Denver Metro home sales saw a slight decrease in July from June but home sales are actually up by 4% from this time last year. Year to date, sales are also up slightly, as compared to this time last year.
We also saw an increase in new listings, up by 3%.
But, there were also more homes going under contract compared to this time last year, actually up by 9%...
...and just lower than last month by 2.5%.
Of course, what every homeowner wants to know is whether or not home prices are still increasing. They did decrease slightly from last month for the second consecutive month, but that’s typical this time of year. The good news is, if you look at home prices compared to last year at this time, they’re up by 4%. In July, the average sold price for a home was just over $496,000.
We currently have 7 weeks of inventory, unchanged from both last month...
...and last year at this time.
The average days on market compared to last year is up by 3 days.
And, it is 1 day less than last month.
If you’re watching these videos, you’re staying current with all the latest local market trends..so you know it’s a great time to take advantage of favorable market conditions as both buyers AND sellers. As always, we know everyone’s situation is unique!
Please give us a call to discuss how the real estate market impacts you. We'd love to hear from you!