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Average Home Price &
Metro Denver Market Report
September brought seasonal cooling to the housing market. Prices, as well as the number of homes sold softened, but by year-over-year comparisons, the Denver market remains healthy.
The price of a Denver-area home saw a month-over-month decrease for the third consecutive month, dipping below $400,000 for the first time since April.
The average sale price of a single family detached home was $433,851, down two percent as compared to last month and up 11 percent year over year. At $291,019, the average sold price of a townhome stayed flat month-over-month, but is up 15 percent year-over- year. Additionally, 5,055 homes were sold, which is down 7 percent month over month and down 10 percent from this time last year.
With the cooling demand this Fall, inventory levels have been given a slight boost.
Total active listings have raised the supply of inventory to eight weeks. Although
good, that number is still a long way from what is necessary for a balanced market.
As we head into the last few months of the year, stabilzing inventory levels and a
steady flow of new listings will continue to provide buyers with greater opportunities.
Till next month.
If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other circumstance, please let me know. Call or email. I look forward to helping those you know, because they trust you and appreciate your referral.
Michael Dagner is a real estate professional in Denver, Colorado.
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir