Denver’s real estate market is feeling the seasonal change and has started to slow from the height of summer. Some metrics were down in September indicating seasonality playing into the market. Check out below to see how the Denver area housing market performed in September:
Data from ReColorado from September 1, 2021 to September 31, 2021.
Monthly sales in the Denver area decreased, landing at 5,517. This was a decrease from last year landing at 15%.
September new listings decreased again 6% from September of 2020 at 6,098. Pending listings were also down 5% at 5,630 compared to 5,954 in September of 2020.
Surprisingly, sales price increased compared to August – landing at $618,367. This is still a 15% increase from September of 2020, up from $537,092.
Days on Market (DOM)
The average days on market is starting to slow as the season changes. Denver homes spent an average of 13 days on the market in September. This is still a 10 day decrease from September of 2020.
A Word From a Homie Expert
Phillip Kranefuss, our Head of Real Estate in Colorado had this to say about the market:
“This late year slowdown is not a surprise. We’ve seen the same dynamic almost every year in this low inventory / high demand market cycle that started back in 2013.
Listings inventory ticks up slightly while the buyer heat ebbs in the latter half of the year. The big question is whether the buy-side demand will pick up aggressively at the start of the new year, staying consistent with previous years’ trend, or will we see a break in the pattern—perhaps indicating that we are entering a new market cycle.”
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.
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