Numbers based on data from REColorado – September 2018.
In Metro Denver, there were 8,807 homes for sale. This was a 7.04% increase over the prior month and a 16.10% increase over the previous year. This increase in inventory gives buyers more homes to choose from and indicates that sellers may have to price more aggressively for a quick sale.
Homes that Sold
3,989 homes sold during September in Metro Denver. That was down 28.91% from the month before and down 20.24% from the previous year. Homes are taking longer to sell. The average home that sold during September spent 26 days on the market – still fairly short historically, but up 13.04% from August and up 4% from the previous year.
In Metro Denver, single-family homes sold for an average price of $502,034, a 6.08% increase over September 2017. The median price was $428,000. Condos sold for an average price of $347,629, an increase of over 11% from 2017. Condos spent 24 days on the market on average, an increase of 20% over 2017.
Metro Market Insights
During September, we saw the most homes for sale in Denver, Douglas, Arapahoe and Jefferson Counties. If you’re thinking of selling a home, now is still a fine time to do so. Homes that are priced right and show well are selling quickly. For the year to date, 42,990 homes have been sold in the metro area, which is down 3.04% from 2017. The most active price segment for single-family homes was $300,000 to $399,999 and $200,000 to $299,999 for condos.