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Front Range Real Estate Market Update, October 7, 2022

What happened in September? Homes took twice as long to sell as they did a year ago. The average sold price was up more than 8% year-over-year, buyers had more to choose from, and attached homes sold faster than detached homes.

Residential – Detached and Attached Homes

Average Closed Price: $671,024
+2.2% compared to August
+8.41% year-over-year

Active Listings at the End of the Month: 7,683
+10.72% compared to August
+93.48% year-over-year

Closed Homes: 4,113
-8.4% compared to August
-27.6% year-over-year

Days in MLS: 26
+36.84% compared to August
+100% year-over-year

 

Detached Homes

Average Closed Price: $745,947
+0.28% compared to August
+8.02% year-over-year

Active Listings at the End of the Month: 5,798
+9.44% compared to August
+106.85% year-over-year

Closed Homes: 2,924
-6.64% compared to August
-27.5% year-over-year

Days in MLS: 28
+40% compared to August
+115.38% year-over-year 

Attached Homes

Average Closed Price: $468,773
+6.93% compared to August
+9.67% year-over-year

Active Listings at the End of the Month: 1,885
+14.87% compared to August
+61.39% year-over-year

Closed Homes: 1,189
-12.44% compared to August
-27.85% year-over-year

Days in MLS: 23
+43.75% compared to August
+64.29% year-over-year

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Metro Denver Real Estate Market Activity

During the last week:
New Listings – 1300
Back On Market – 368
Price Increase – 98
Price Decrease – 2001
Pending – 1194
Withdrawn – 273
Closed – 1378
Expired – 525

Previous Week:
New Listings – 1269
Back On Market – 319
Price Increase – 77
Price Decrease – 2037
Pending – 1244
Withdrawn – 239
Closed – 1228
Expired – 221

Based on data from REColorado®

“We are in a very crazy time for real estate. I was a licensed agent myself 30 years ago. David and Tom are Top Realtors. They are very hard-working, dependable and above all, honest! Let them give you a very realistic appraisal and discuss their marketing plan! They will create a web page just for your home which is very impressive and brings out more buyers.

You could not find a better team of realtors that you can trust fully in this insane market. They helped me write a killer listing, with very professional photos – Lots of them! Plus a 3-D walking video tour of the home, which helped me get full price in 2 days. They’ve sold lots and lots of homes and condos in all price ranges, up to luxury homes, in the last 10 years. Call them up and let them take a look at your home. They are very smart and the best professionals you could find in Metro Denver.”
– Allen R., Lakewood

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