May Denver Metro Real Estate Market shows a continuing increase in homes for sale – over 36% increase over May of 2018. That continues to be great news for buyers!
That means buyers have more homes to choose from and sellers are having to price their homes less aggressively or expect to be on the market for a while. The Average Sold Price is up $6,484 from last month – from $484,512 to $490,996. The Average Days on the Market is down to 27 days now from 31 days last month.
As has been the case for the last 2 years, we still do not have enough homes in the lower price range – under $350,000. Those buyers in that price range will most likely have to get a condo/townhome, buy a fixer upper single family home or go further away from the city. The recent drop in interest rates does give some help to those in that price range. Interest rates dropped to below 4%. We expected them to go up to 5% by the end of last year, but the experts aren’t always right.
That’s an overview of what was happening in the May Denver Metro Real Estate Market.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – Vickie@DreamsCanHappen.com with “Home Loan Report” in subject field and I’ll send it right over.
Also….check these out??