Denver’s real estate market remained active in August, even with the new school year starting. Denver continued to have high pricing and a large number of homes closed. Check out below to see how the Denver area housing market performed in August:
Data from ReColorado from August 1, 2021 to August 30, 2021.
Monthly sales in the Denver area decreased, landing at 5,894. This was another decrease from last year landing at 11%.
July new listings decreased yet again 11% from August of 2020 at 6,098. Pending listings were also down 9% at 6,334 compared to 6,953 in August of 2020.
Sales price decreased again compared to July – landing at $613,656. This is still a 14% increase from August of 2020, up from $538,035.
Days on Market (DOM)
The average days on market is starting to slow as the school year begins. Denver homes spent an average of 11 days on the market in August. This is still a 13 day decrease from August of 2020.
A Word From a Homie Expert
Phillip Kranefuss, our Head of Real Estate in Colorado had this to say about the market:
“While we’re still in very much a seller’s market, this is a good time for buyers to get a bit more aggressive as we’re seeing lessened competition in the marketplace – with less offers per listing (and in some cases, only one offer coming in before the listing goes under contract) and offers not bidding as aggressively over list price. We’ve also seen a slight pull back in prices month over month in August, and at the same time there is a reduction in listings volume, which tells us that the demand side is softening up even more.”
Turn to a Homie
Are you ready to jump into the market as a buyer or seller? Homie’s experienced local real estate agents can help you have the best experience possible throughout the entire process. These agents know how to put together that perfect offer to help you get your dream house if you’re a buyer, and they know how to make sure you get the offer you’re looking for if you’re a seller. Click to start selling or buying and get in touch with your dedicated agent.
Read more from Homie about Denver real estate.