Denver Market Report - August 2011
Denver Home Sales in August were considerably more than the rest of the summer. With the interest rates hovering around 4% for most buyers, this prompted many to purchase a property! The big news is --- INVENTORY IS VERY LOW! This is the first time in years it is difficult to find properties for buyers, especially in the $200,000 and less market! These statistics are for the entire Denver Metro area.
As you can see, the active inventory of single family homes are down almost 25%. If you have thought of selling your home, buyers are out and BUYING homes right now. Take advantage of the rates today!
The difference between pending and under contract, is pending is the verbal agreement with a bank before the actual signatures come through.
August is usually a slower month with homeowners getting the kids ready for school, and families going on their last vacations. Not this August, buyers were out in full force as the numbers reveal!
Although the average sold price shows a decline, this varies from area to area, and most areas are still very flat in price. These statistics are for the entire Metro Denver area.
If you have thought about selling your home, please call me for a comparative market analysis, and see if this is the right time for you to sell your home!
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