Denver’s real estate market is starting to level off but is holding a steady pace with the great fall weather. Buyers are still interested in higher priced homes with low interest rates, with home prices still 17% higher than the previous year. Check out below to see how the Denver area housing market performed in October:
Data from ReColorado from October 1, 2021 to October 31, 2021.
The monthly sales numbers in the Denver area decreased, landing at 5,354. This was a decline from last year, landing at a drop of 18%.
October new listings decreased again 13% from October of 2020 at 5,317. Pending listings were the opposite – up 1% at 5,853 compared to 5,805 in October of 2020.
With the season changing, sales prices finally decreased from September – landing at $612,153. This is still a 9% increase from October of 2020, up from $559,491.
Days on Market (DOM)
The average days on market continue to slow as the season changes. Denver homes spent an average of 14 days on the market in October. This is still a 10 day decrease from October of 2020.
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