At the beginning of each month we do a Denver Real Estate Market Report. Enjoy our report for September 2017 and please let us know if you have any questions. We email this market infographic report out each month, to get on that email list please reach out to marketing@usajrealty.com and request to be added.
Key Takeaways for September 2017 via DMAR for Metro Denver:
- Inventory was just slightly higher from last month as well as last year
- September 2017 Active Listings was: 7,586
- August 2017 Active Listings was 7,360
- September 2015 Active Listings was 7,015 (the record low for September)
- Median Sales Price a condo in Metro Denver in September 2017: $268,000
- Down from August’s $275,000
- And down from July’s $270,100
- Median Sales Price a single-family residence in Metro Denver in September 2017: $409,000
- Down just slightly from August’s 2017: $410,000
- And down from July’s $420,000
An Overview of the Market:
- “[The] average resale prices in the metro area are now twice as high as they were in 2000.” —Denver Business Journal
- “Home prices are still rising in metro Denver at a pace well ahead of the national average, the closely-followed monthly report series indicates. But the pace of that increase has been slowing gradually since January.” —Denver Business Journal
- Development is not slowing down anytime soon: “Denver ranks 6th on the list of markets on pace to build the most homes in 2017 with 25,098 annualized permits.” – DMAR
What’s Happening in Denver:
- If we just look at the city of Denver (excluding the other 10 counties that DMAR includes in its report), a seasonal cool-down this time of year is very typical:
Source: REColorado
Inventory continues to be very low in terms of months of supply needed for a balanced or buyer’s market in the city of Denver:
Source: REColorado
Report for Metro Denver:
Read Denver Metro Association of Realtor’s full report on last month’s Real Estate trends and statistics in Denver here.
And as always, please let us know if you have any questions!
