Nov 04, 2014

October 2014 Denver Housing Report

Average Home Price - Metro Denver

Updated on October 1, 2014

Average Home Price -
& Monthly Housing Report

Is the sky falling in Denver real estate?  No... but we are seeing some slight and seasonal drops in our sales numbers for last month. This is the first time in about 18 months where prices for condos and single-family houses, including sold transactions, were all down from the month prior. The drop is not significant, but does show signs of a denver real estate market that is stabilizing.

Although the market has begun to settle down and houses are beginning to sit awhile longer, there's still no shortage of buyers for homes in the bottom price ranges, especially those under 250k. That is the new affordable range, and if a house is in very nice condition, it should sell pretty fast. Renters who've been smitten by the ax of increased rents want out, and they're the driving force in the affordable priced market. Investor and all-cash transactions have also declined 5-10 percent, after a strong 18 months of activity.

Interest Rates remain affordable and that should continue to push sales in the Denver market. Next year is still anyone's guess though, especially with anticipated interest rate hikes. News from various and reputable sources say that Denver's economy is stronger than most other real estate markets across the country. That should continue to bring job seekers to Colorado, and keep Denver's housing market moving forward.

Stay tuned for more updates.  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. 

Till next month,

Average Home Price & Solds Graphs

Average Home Price, Inventory, & Days-On-The-Market Graph

Michael Dagner

Michael Dagner is a real estate professional in Denver, Colorado.