A recent study by Altos Research indicates that “there are 29% more homes unsold on the market now than a year ago. That’s 144,000 more single-family homes on the market now. Inventory has been about 27-30% more than the year prior for 6 months now.”
What does that mean for us? And is our area similar?
Last September, we saw very large numbers of price reductions. In many parts of the metro area, more than half of all homes for sale had been reduced in price at least once. As inventory increases, sellers are reducing their asking price, but we don’t have as many price reductions as last September.
If you’re selling a home, you want maximum interest from buyers. You want as many qualified buyers to see your home as possible to get top dollar. If your home feels like an excellent value to buyers, you’re more likely to get offers from many buyers. If your property is over-priced, buyers will know it and won’t come to see it or make offers on it. Be sure to price based on your competition so your property stands out to buyers.
Percentage of homes on the market with at least one price reduction by city:
City | Today | September 2024 | May 2024 | January 2024 |
| Aurora | 48% | 54% | 49% | 33% |
| Castle Rock | 42% | 50% | 43% | 37% |
| Denver | 40% | 52% | n/a | n/a |
| Westminster | 40% | 50% | 51% | 34% |
| Lakewood | 39% | 53% | 38% | 48% |
| Littleton | 39% | 51% | 40% | 38% |
| Thornton | 36% | 46% | 42% | 38% |
| Arvada | 35% | 52% | 37% | 33% |
| Highlands Ranch | 35% | 55% | 41% | 29% |
| Longmont | 33% | 50% | 36% | 33% |
| Broomfield | 31% | 42% | 34% | 44% |
| Boulder | 29% | 46% | 37% | 31% |
Percentage of homes on the market with at least one price reduction by county:
| County | TODAY | September 2024 | August 2023 | June 2023 |
| Arapahoe | 47% | 55% | 48% | 35% |
| Adams | 40% | 47% | 43% | 34% |
| Denver | 40% | 52% | 46% | 36% |
| Douglas | 38% | 51% | 43% | 38% |
| Weld | 38% | 47% | 34% | 30% |
| Jefferson | 35% | 51% | 36% | 40% |
| Boulder | 32% | 46% | 36% | 32% |
| Larimer | 32% | 43% | 33% | 37% |
| Broomfield | 31% | 44% | 34% | 45% |
How much money could you earn if you sold your home today?
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Try it nowDuring the last week:
New Listings – 1546
Back On Market – 282
Price Increase – 127
Price Decrease – 1588
Pending – 1270
Withdrawn – 118
Closed – 861
Expired – 281
Previous Week:
New Listings – 1489
Back On Market – 246
Price Increase – 89
Price Decrease – 1286
Pending – 1245
Withdrawn – 144
Closed – 741
Expired – 260
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Based on data from REColorado®
Trends in Metro Denver
- Home Prices
- How Long It Takes to Sell a Home
- Prices Per Square Foot
- Showings Until Pending
- Active Listings
- New Listings
- Closings
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