Curious about what the Denver real estate market has been doing lately? I’ve got a quick update for you today that should cover it.
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Home sales are down 7% year over year in Denver during the first quarter of 2019. In other words, our rate of increase is decreasing just a little bit.
We saw this coming. We had 9,000 listings on the market last September, but have fewer than 6,000 today. Our active listings are continually getting eaten into. The days on market have decreased by 2% year over year as well.
We still have a very healthy market right now.
Now, the month-over-month stats tell us more about the feel of the market as opposed to the trajectory for those in the market right now. We saw the market go up by 20% in the last month in terms of home sales. Homes are selling about 20% faster as well. This means home selling season is here and you need to get ready for it. Because the market is heating up, prices are going up. There was a 4% increase in the average price in just the last month.
What does this all mean for you? Well, we still have a very healthy market that you should be confident in whether you’re thinking about buying or selling. Sellers can take advantage of the current hot conditions, and buyers can use today’s low interest rates to lock in a great monthly payment on their mortgage.
If you have any other questions for me in the meantime about our market or anything else related to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.