Denver Real Estate Market Update October 2021!
Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado!
Selling homes from $30,000-$105,000 Over Asking Price in 2021! Don't Miss Your Opportunity Call or Text Today! 303-949-2755
It is hard to believe that we now have 3 Quarters in the books for 2021, and after what felt like a Seasonal Slowdown in July and August our September Market bounced back to our current normal speed of Buyers having an insatiable desire to buy a home, and Listing Inventory still very low and almost starving the market in some price ranges!
We have a couple of interesting trend lines happening:
- First our New Listings actually went up from last month, albeit a very small gain but still unusual as that graph generally trends down for the rest of the year.
- Pending sales dropped 6.48% from last month
- Closed Properties dropped a notable 12.8% from last month and more notably down 19.3% from September of last year!
This is not surprising with the downturn from July and August, and we expect Closings to pick up in the 4th Quarter with the end of the year finishing fairly strong!
Year to date at the end of September;
- Active Listings are down 25% through September last year
- New Listings are down 4% YOY
- Closings are up 3.1% YOY
- The Average Price of a Single Family Home was $686,982 and that’s a whopping 20.12% higher YOY!
- Townhomes and Condos are at $431,071 which is also a whopping 14.66% higher YOY!
This Fall Market is an excellent time to List a home if you are a Seller, as demand will continue through the 4th Quarter!
This is an excellent time to be a Buyer, as it looks like we might see Inventory possibly increase or at least level out and beat the potential rise in Interest Rates!
Enjoy the Fall Colors in your New Backyard!
Please let me know if you have any questions or would like any more specific information, feel free to forward our market update to everyone you know and spread the word that real estate is open for business!