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More Homes For Sale Than Any Month in the Last 5 Years

June 28, 2019 By Vickie Hall

The metro Denver housing market ended May with more homes for sale than any other month in the past five years. According to the Denver Metro Association of Realtors (DMAR), May ended with 8,891 active listings, an increase of nearly 27 percent from the month before and a 38 percent increase from May 2018.

May’s inventory was also the highest the market has seen since November 2013, when there were 9,352 homes on the market at month’s end. According to a spokesperson for DMAR, sellers have been experiencing an unprecedented increase in values. Even with the added inventory, prices were still up a bit.

May saw a slight increase in Denver’s median sold price, which hit $431,000 for the entire residential market, including both condos and single-family detached homes. Denver is still a seller’s market, but homes are staying on the market longer than this time last year, meaning buyers have a little more time to haggle for a good price.

There has also been more negotiating, according to DMAR. The close-to-list price ratio dropped to 99.35 percent year to date. At this point in the last four years, the association said, sellers were getting, on average, more than the asking price. Home sellers still have control across the housing price ranges, but a little give and take makes buyers feel better.

U.S. long-term mortgage rates fell for the sixth consecutive week at May’s end, with the key 30-year loan running at an average of 3.82 percent and its lowest level since September 2017. The declining rates have been a boon to potential buyers in the spring homebuying season, and the opportunity to refinance mortgages jumped the first week of June.

Mortgage buyer Freddie Mac said the average rate dipped from 3.99 percent the last week of May. By contrast, a year ago the benchmark rate stood at 4.54 percent. The average rate for 15-year fixed-rate home loans declined in early June to 3.28 percent from 3.46 percent.

Original article from www.ColoradoMasters.com.

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. – [email protected]

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 – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.

Also….check these out??

Denver Home Finder Service

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Filed Under: Cherry Creek Vista Homes, Homes in Cherry Creek School District, Real Estate Tagged With: Cherry Creek Vista Homes For Sale, Homes for Sale in Cherry Creek School District, Vickie Hall RE/MAX Masters Millennium, Vickie Hall Realtor

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