Sep 01, 2015

August 2015 Denver Housing Report

Average Home Price - Metro Denver

Updated on August 1, 2015

Average Home Price 
& Monthly Housing Report

Denver's housing inventory rose by over 8% in July. This was met by a slight drop in average prices for both homes and condos. Interestingly, the number of 'homes sold' actually rose during that same time. Home sales climbed to what will probably be a hig for the year, at 5742 units.

With Denver's ever-rising home prices now running into an increase of inventory, it'll be interesting to see whether buyer demand begins to cool after 3 straight years of red-hot sales. In the price ranges above 350k, we've noticed more and more price adjustments on houses that have been on the market longer than 30 days. This hasn't yet impacted too many properties listed below the 400k mark, where its still pretty routine to see multiple bids and overbidding, particularly in the lower price or median ranges.

With the second half of the year underway, it's important for sellers to recognize the dynamics of our changing real estate market, and how that market can respond to changes in season, inventory levels, house location, and interest rates. Letting a house linger on the market for too long without a price adjustment, can spell trouble. Communication and information is key to getting any house sold.

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.