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Inventory of Denver Homes increased for the second consecutive month as the market experiences some 'seasonal' cooling.
All three key market indicators also dropped last month, and that included the number of homes sold, home prices, and condo prices.
Entering September, we now have the highest level of 'active listings' in almost a full year. The market is sitting on about 8900 units for sale, which is nearly identical to where we were in September 2015.
As we draw close to the end of the traditional summer selling season, I anticipate the market to remain strong but stable. While it may take a little time to determine just how the additional inventory is be absorbed, all these new listings are a welcome sign that will help keep Denver's housing market vibrant, and will provide buyers with more 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