The Denver Area Real Estate Market final figures for August shows 13.2% more homes were for sale (13,442) this August vs August of 2018. Encouraging news for buyers – more homes to choose from and less buyers competing with you.
The Average Sold Price is down slightly from last month – from $482,526 to $478,445. The Average Days on the Market is up a little from the last two months – 33 days up from 26-27 days the prior two months.
So prices are down slightly, homes are staying on the market longer and there are more homes to choose from.
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 close to 2 months to absorb/sell all the homes currently on the market (13,442). 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 what was happening in the August’s Denver Area Real Estate Market.
Vickie Hall, Realtor
RE/MAX Masters Millennium
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??