STRONG DENVER REAL ESTATE MARKET MARCHES ON

STRONG DENVER REAL ESTATE MARKET MARCHES ON

Matt Hudson, CEO Denver Market Stats

This time last year, Denver’s days on market listings were ½ of what they are today, prices are up, and inventory is remarkably low. Combine these factors with current interest rates, and we see the market is remaining strong. Stay up to date, message me for specifics within your area!

INVENTORY, PRICE, AND SALES ALL UP

Matt Hudson, CEO Denver Market Stats

UP, UP, and UP! Last week new homes for sale was 14% higher and there were 44.6% more homes under contract compared to the last 3-year average. The average weekly sales price of a single-family home is also still going up hitting $628,236 last week.

Denver Real Estate: THE GAP WIDENS

DENVER REAL ESTATE: THE GAP WIDENS

Matt Hudson, CEO Denver Market Stats

Fall season typically marks a slowing of the real estate market. We see a slight decline in home values and reduction in market activity every year. EXCEPT THIS YEAR. While an unusually high 1,534 homes hit the market last week, 1,631 homes went under contract, further widening the supply and demand gap.

Denver Real Estate: Breaking Records, Yet Again

Matt Hudson, CEO Denver Market Stats

Another week of records! 1,658 homes under contract last week is 45% higher than the last 3-year average. The average weekly sales price of all property types has also risen 22.5% in the last 14 weeks, from $476,861 in week 19, now at $584,035. PM me if you want to know more about your specific area.

We Were Wrong

Matt Hudson, CEO Denver Market Stats

We thought prices might increase by 6% over the last 6 week period. The Average Weekly Sales Price has SKYROCKETED from a low of $483,563 to an all time high of $575,025, two weeks ago. That’s an 18.9% increase in 10 weeks! The number of homes being listed for sale has remained at, or only slightly above the seasonal weekly average, creating a serious supply issue.

Signs of a Denver Real Estate Slowdown?

Matt Hudson, CEO Denver Market Stats

Denver is arguably the hottest real estate market in the country! Given certain factors and interest rates anticipated to remain low, we expect continued appreciation through the end of 2020 with hopes for a modest slowdown.