Greetings from the R&R Team! The current real estate market continues with a steady pace of low inventory and strong demand, however it is feeling like our early predictions of a more balanced market by August may be coming true.
The Denver market definitely showed some signs of slowing down a little in June as showings per day decreased, listings coming back on the market increased and the number of price reductions saw a steady increase. The biggest factor that changed slightly was that we finally saw our active listing inventory above 3,000 which was the first time it was that high since early 2021. The average price of a single family home was $728,385 in June and condos/townhomes sold at an average price of $440,066. These prices surely don’t feel like a market shift at all, but we will probably start to feel those soften during the second half of the year.
As always, there is much more information below and don’t forget to scroll down to see the stats for the LUXURY MARKET – which is averaging $1.6 million per sale at an 11% increase from last year at this time. Please call us with any questions or if you’d like a free valuation of your home. Thanks, The R&R Team