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August numbers based on data from REColorado.

Inventory
The number of homes for sale in Metro Denver was at its highest level in four years. 8,228 homes were for sale in August, an increase of 7.65% over the previous month. This increase gives buyers more homes to choose from and may signal to sellers that it’s time for more competitive pricing to get a quick sale.

Homes that Sold
5,077 homes sold in Metro Denver during the month of August. Homes that sold in August spent 22 days on the market on average, 10% longer than the previous month. The average single-family detached home that sold had 15.5 showings before it went under contract. Condos and townhomes went under contract with fewer showings – an average of 11.2.

Prices
The average price for a home that sold in Metro Denver during August was $474,838, down 0.58% from July. The median price for a home sold was $410,000, down 1.2%. In Metro Denver, the average home sold for 99.6% of the list price. The average price per square foot was $194, an increase of 8.4% over August 2017.

What’s Happening in Jefferson County
1006 homes sold in Jefferson county in August. The median price for a home that sold was $425,000, up 7.9% over July. The average home that sold during August in Jeffco spent just 19 days on the market. Newer homes – those built since 2001 – spent 29 days on the market. The average single-family detached home had 15.7 showings before going under contract. Condos and townhomes sold with fewer showings than other homes – just 5.4 on average. The average price per square foot was $197.

Wondering about specifics related to your neighborhood? Call David for information – 720-408-7409.