Denver Metro Housing Market Cools But Still Favors Sellers
The latest housing market statistics report from REcolorado shows continued seasonal cooling. Throughout August, prices fell, fewer homes sold, and there was a decrease in the number of homes being listed. But even though sellers may get a little less
for their home now than a few months ago, inventory is still tight. That means competition for Colorado home buyers isn’t going away anytime soon.
Seasonal Cooling is Expected
If you’re at all familiar with a typical year in the real estate market, you know the selling season heats up in late winter and early spring, continues that momentum through the summer, and then cools when the back-to-school season hits. This year, the
average home sale price peaked and reached a record high in June 2017 at $448,181. In August, that price fell to $428,174. Still, that’s eight percent higher than this time last year which proves that the Denver metro area continues to be a desirable
place to live.
Fewer Homes for Sale Means More Competition Among Buyers
Inventory remains tight across the metro market which means more competition for buyers. In August there were 4,920 homes sold, and half of those homes were in the $300,000 to $500,000 price range.
Housing Market Detailed Report
For more information on Denver Metro real estate trends, view the REcolorado Market Watch Infographic for August 2017
Even though the market is showing signs of seasonal cooling, Colorado home buyers should still be well prepared when it comes to finding a home in a fast-paced market.
Selling a home? Consider these tips for selling your home in a fast-paced market
Thinking of Selling a home? Get an automated Denver home value report here.
Thinking of Buying a home?
Search all metro Denver homes for sale here.
If you have any real estate questions, feel free to contact your Parker real estate experts, The Bandy Team
! Let us show you homes in Parker
, including real estate in Meridian Village
properties in The Pinery
or luxury homes in Pradera
We are here to help you find your dream home and will guide you every step of the way!
Until next time,
Marianne Bandy, Team Leader
The Bandy Team
- EXP Realty
DenverHomeSearcher.com - Denver Real Estate & Homes
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