If you need help navigating this market, call us at (303) 532-4742. Buyer fatigue is real at the moment, with lots of buyers giving up on their search. Sellers are getting bad advice, listing with no plan or execution. When you work with us, you are working with the very best Denver real estate agents. Don't leave such a huge financial decision to chance.
September 2021 Denver Market Update:
In August, the Denver real estate market continued to be unique and unexpected compared to previous "typical" years. The inventory of homes is still low, and demand remains very high. Sellers have the advantage in nearly all price segments. It will be interesting to see if we will have an uptick in inventory after Labor Day, as has been the case historically.
Supply - Active Listings
Active listings continue to be well below historic levels with a surprising month-over-month decrease. In a typical year, we would see an increase in supply from July to August - but this has not been the case for 2020 or 2021.
It is good news to see new listings entering the market at a similar rate as in prior years.
Demand - Pending Sales
Traditionally, August is slower than July for pending sales, but the last two years have reversed that trend.
Days in MLS
The average number of days in the MLS is only 11, a decrease of 52% year over year. However, we did see a slight uptick over July.
Percent of Closed Price to List Price
The red hot competition for homes is cooling slightly, but the percentage of the closed price to list price is still very high at 103%. We will continue to watch this trend as we head into the fall months.
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Reports based on data from REColorado®, Inc.
Greater Metro Denver includes the following counties:
- Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
- Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market. •Information deemed reliable but not guaranteed.
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