Denver Housing Market Report October 2021: What's Going On With Denver Real Estate Market Today?

The October 2021 Denver Metro real estate market report is OUT!

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening if you are thinking of buying a home in Colorado this 2021 especially this Fall. Real estate market reports are only the beginning of the process of understanding the changes, opportunities, and challenges in the Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

The October 2021 Denver Metro housing market report indicated that the market is getting hot. The latest Denver housing market report showed an increase in inventory by 10.86%. Because of this, September felt back to the normal red-hot speed of today's real estate market and made it a great time to buy a home in Denver. The latest report also showed the overall month-end closed properties were 12.81% compared to the previous month's real estate statistics and 19.27% lower than the previous year. As we continue to see low inventory and fewer homes on the market, the balance of supply and demand remained steady, making it another month of competition for buyers. As the months of inventory increased by 0.76, this gave buyers more options and this slowdown in the Denver Metro real estate market made buyers more willing to be more patient in finding the right home for the right price. This doesn't mean that we are now over the strong seller's market. There is still a shortage of great homes for sale in Denver, Colorado, and more buyers looking to buy a home in the Denver Metro area before the colder weather begins which indicates that it's still a great time to sell a home in Denver right now. 

The Denver Metro real estate market report for September 2021 still presented the lowest number of active properties on record with only 3,971 properties available on the market at month's end. Compared to August 2021's Denver housing market report, the month-end active listings increased by 10.86%. September 2021 Denver real estate market also showed an increase in average closed price compared to the previous month by 0.77%. While month-end active inventory is historically low for September, there are still plenty of opportunities for both buyers and sellers as the Denver real estate market goes hot.

In the September 2021 Denver housing market report, there were 2,803 single-family detached active homes at month-end on the market which showed a 13.53% increase compared to the previous month and a 7.83% decrease compared to last year. There were also 4,392 new homes listed on the market at month-end which also showed a 2.07% increase compared to the previous month and a 1.06% decrease compared to the previous year. Because of low inventory, only 3,711 single-family detached homes were sold in September 2021 which showed a 12.39% decrease compared to the previous month and also a 20% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down a bit with an average of 13 days of being live on the market compared to 10 days from the previous month.

In the attached market, attached single-family homes in Denver showed a 4.94% increase in active homes at month-end at 1,168 compared to the previous month and a 48.32% decrease compared to the previous year. There were 1,733 new listings that showed a 4.10% decrease from the previous month and a 15.01% decrease compared to the previous year. There were 1,522 sold attached single-family homes in Denver also showed a 13.82% decrease from the previous month and a 17.42% decrease from the previous year. Days in the market for attached homes are also slowing down a bit with an average of 15 days of being live on the market compared to 14 days from the previous month.

Buying or Selling a Home in Colorado

If you are planning to sell your home in Colorado, now is still the best time as you can still expect multiple offers because of the lesser homes available on the market today. On the other hand, if you are planning to buy a home in Colorado, it can also be a great time as there is now competition which enables you to have more time to look at homes available. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market. If you are looking for great homes for sale in Denver, we can help you.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's historic low-interest rates.

To download or see a copy of the full report, click here.