September Market Report - Metro Denver
Last Month's Key Statistics
for Denver's Real estate Market
Attached & Detached Single Family Homes
THE AVERAGE SALES PRICE OF $640,748 IN MAY ROSE 4.9% FROM LAST MONTH AND DECLINED 0.3% FROM LAST YEAR.
Quick Stats:
- Average active listings for August are 15,900 (1985-2022).
- Record-high August was 2006 with 31,664 listings and the record-low was set in 2021 with 3,582 listings.
- The historical average decrease in active listings from July to August is 1.08 percent. This year’s increase of 8.9 percent represents continued underperformance of pending and new listings.
Hey, everyone! Zach Florence here, bringing you this month’s market update. I’ve heard a lot of people talk about how weird the market is; however, I argue that our market is fairly normal! Good properties that are priced well sell quickly, while other properties are taking longer to sell compared to previous years. Yes, now is normal - what we experienced back in 2020 and 2021 was a strange “unicorn market.” Clear evidence reflecting our normal market today: we are sitting at 5% annual appreciation, which is a long-term average for the US. Considering where interest rates are now, 5% appreciation tells us that our market is doing very well.
As expected, we have seen our fall selling season kick off! Our biggest selling season, as you know, is in the spring and our second selling season comes in the fall. Evidently, we saw an increase in pending transactions of 26% after Labor Day weekend. That’s fairly substantial! Buyers are getting back into the market - and sellers are too, as we saw an increase of 91% new listings after Labor Day weekend as well. Our fall selling season is here and it should run through the holidays. As always, if you have any questions regarding your specific needs or your specific market, please don’t hesitate to reach out!
