Denver’s Real Estate Market continues to march on with a purpose as we are still seeing very high demand and low inventory.
One of the biggest trends so far this year is the increasing average price of a single family home. Remarkably, single family detached homes averaged $686,908 in August and that is up 21% year over year! The active listings actually went down at the end of August with 3,582 vs 4,056 last month and still down 35% from this time last year. New listings were down in August, while pendings were up and increased 9.5% over last month. Closings were also down 9.5% from July, which is a result of softer sales in July. Year to date at the end of August, closings are up 5.7%.
If you are looking to sell, you should list your home in this market. On the flip side, if you are a frustrated buyer that has struggled to find the right home this year, you should be looking at homes now and we are more than happy to help. Give us a call or drop us an email and we can let you know the next steps.
PS: Don’t forget to scroll down to look at the LUXURY MARKET data!