November 2022 Real Estate Snapshot
September 2022 Real Estate Snap Shot
August 2022 showed a much needed end of summer reset for Denver Metro housing.
Even though homes took longer to sell, we still ended the month with only 1.98
months of inventory for both detached and attached homes. Believe it or not, our
inventory was actually down 18.50 percent from the prior month for detached and
attached homes but was up 18.90 percent from one year ago. More inventory has
been a blessing for our market and what we've needed for some time. This reset is
good and healthy. While the headlines may not seem positive, we're delighted and
welcome this somewhat balanced market
The Signature Market represents 15.76 percent of the homes that came on the market in August, and our sales volume for attached and detached homes was down 11.11 percent from the prior month and down 5.09 percent from one year ago.
Learn more about what's happening in this month's Market Trends Report
DMAR Real Estate Market Trends Report | SEP 22'
Stunning ADU In Berkeley - 4457 Xavier St #1/2 | Denver - Berkeley | $2000/MO
Make this super cute 641 square foot, 1 bedroom, 1bath ADU your next home. Available furnished or unfurnished and located in one of the hottest neighborhoods in Denver! Close proximity to Tennyson Street, Berkeley Lake, restaurants, bars, and great coffee shops. A private entrance and single car garage make living here a breeze. Available September 23, 2022. Property is available furnished for a minimum of a 3 month lease at $2500 per month.
August 2022 Real Estate Snapshot
The data confirms that the Denver Metro area is no longer in a shifting market. Instead, it has shifted, and the real estate market is more balanced. Month-over-month, the market is down 3.33 percent but compared to last year, it is still up 11.04 percent, indicating that a more balanced market, combined with slightly decreasing interest rates, may create opportunity for those who previously felt burned out on the process.
One of the primary indicators of a shifted market is the close-price-to-list-price ratio, which was down to 100.81 percent. Buyers have become more specific about what they are looking for and frequently question if, and how much, below the asking price they can offer. Gone are the days that a seller can simply put a sign in the yard and expect their home to sell.
Every indicator points to the market shifting closer to a buyer’s market. The month-end active listings increased 21.53 percent last month. Pending and closed deals decreased and days in the MLS increased by exactly 30 percent. However, the market is still far from what many experts would consider a buyer’s market. There are over 2,000 fewer properties on the market today than there were three years ago and, during the last three years, the amount of standing inventory peaked in June and July, which was abnormal. Historically, the market doesn’t peak until August or September.
**Data Source ReColorado