The stats are out for the month of October, and the numbers reflect a slight decrease in sales from last month, which is typical for this time of year. Inventory decreased a bit from last month.
Total Active Listings - 13,392 (last month was 13,870)
Pending Listings - 3,863 (last month was 4,016)
New Listings - 5,009 (last month was 5,459)
Closed Listings - 3,807 (last month was 3,943)
Days in MLS - 51 (last month 52)
Average Closed Price - $699,344 (last month was $666,880)
Percent of closed price to list price - 98.5% (last month was 98.4%)
This data is courtesy of Joan Cox - House to Home, Inc.
I track data daily for the Denver metro area, and the amount of price reductions are averaging around 2000 for a 7-day period, and for the last 7 days, there were 285 and homes returning to market. The inventory finally started decreasing, giving buyers many choices and today was 11,854. (includes land up to high-end homes)
See what homes are currently available - Active Homes for sale in Denver
Buyers - If you have thought about buying a home this year, rates haven't moved much. There are sellers willing to give you concessions for your closing costs (or buy down your interest rate) and no one is waiving inspections right now!
Be sure to be pre-approved and know what your budget is! The inventory has remained steady. We are also seeing a few homes returning to the market, so it would be a good idea to write a backup offer if you did not "win the bid", as you may get a second chance.
Sellers - My sellers are seeing a nice bottom line! The inventory is increasing, and most homes are sitting on the market for a bit longer than normal. Patience is key, we are seeing fewer showings, so very important to have a home READY for the buyer when you do have a showing set. Buyers are looking for homes ready to move in, so fix those items you know are issues before listing!
Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away. Relocating to Denver, and need some advice - see my Relocating to Denver information.
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