Denver Market Report - August 2012
The Denver real estate market has enjoyed a seller's market this year, showing 64 average days on market. The inventory was down 34.9% in August for both single detached family homes and multi-family, which is decreasing over the past few months. We are still seeing multiple offers on well priced homes.
Many Denver homes for sale priced below $250,000 are receiving multiple offers, so quick decisions are necessary. Showings were slower in August as families were going on their final summer vacations, and preparing the kids for school. Showings in September have picked back up after the Holiday weekend. With the interest rates so low and the upcoming election, no one knows exactly what the rates will do, and buyers are anxious to get into their properties prior to the election.
Denver active listings are seeing showings and getting offers within a short period of time after entered into the MLS system in the lower price points. If you have thought about putting your home on the market, call me and we can talk about your options!
Of the current active listings (detached homes) from
$0-$400K, there are 5,345 listings
$401,000-$999,999 there are 2,883 listings
$1,000,000+ there are 822 listings available
Of the current bank owned properties (detached homes) from $0-$400K there are 307 listings
$401,000 to $999,999 there are 28 listings
$1,000,000+ there are 12 listings available.
Of the current short sales properties (detached homes) from $0-$400K there are 401 listings
$401,000-$999,999 there are 58 listings
$1,000,000+ there are 14 listings available
Interest rates are rising, but still low and if you would like to see what properties would fit your criteria, give me a call, or search my web site for your Dream Home.