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Metro Denver Real Estate Market Report, 9/9/2021

LendingTree just released an interesting survey. It found that homeownership is still a goal for most Americans. In fact, 88% of us would rather own a home than rent. Renting has benefits, but people prefer to own because of the stability it provides, the added space that often comes with it, and the pride of homeownership.

Our shortage of homes and affordability issues have resulted in more demand for rentals and a move toward lower-density areas further away from downtown Denver. Buyers are also shopping around for the lowest interest rates more than they have in the past..

Inventory is still low. Back in August 2006, there were 31,664 properties on the market. It’s hard to believe, since this August there were just 3,582 – a record low for August. Our August average is 16,243, so we were well below that. Interestingly, from July to August, listings decrease an average of 0.46 percent. This year, that decrease was 11.69 percent, the second-largest month-over-month drop ever.

August Numbers:

  • Average Closed Price: $614,577
  • Median Closed Price: $535,000
  • Closed Homes: 5,618
  • Average Days in the MLS: 11
  • Active Listings at the End of the Month: 3,582

Ready to make your move? We’re happy to help. Click here to schedule a call. We can explain the buying and selling process and how to get started.

 

Metro Denver Real Estate Market Activity

During the last week:
New Listings – 1413
Back On Market – 275
Price Increase – 174
Price Decrease – 596
Pending – 1717
Withdrawn – 128
Closed – 1421
Expired – 132
Previous Week:
New Listings – 1145
Back On Market – 259
Price Increase – 248
Price Decrease – 688
Pending – 1881
Withdrawn – 139
Closed – 2032
Expired – 243

Based on data from REColorado®

 

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