The Denver Area Real Estate Market final figures for Oct shows 1.1% FEWER homes were for sale (11,632) this Oct vs Oct of 2018 – that bucks the trends from the last few months.
The Average Sold Price is down slightly from last month – from $474,084 to $473,559. The Average Days on the Market is up a little – 37 days instead of 35 days last month.
So prices are down slightly and homes are staying on the market longer. Still a seller’s market but getting better for buyers.
In Oct 6,217 homes were sold. The absorption rate is higher than it’s been in quite a few years – if no other homes came on the market it would take a little less than 2 months to absorb/sell all the homes currently on the market (11,632). For quite awhile we were down to less than a month absorption rate.
So the market is becoming more favorable to buyers than it has been for a couple years.
That’s the Denver Area Real Estate Market Update.
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??