The Denver metro housing market statistics for August reflected a predictable, seasonal slowdown as buyers and sellers alike prepared for another school year. However, the market remained active and competitive.
The ongoing trend of strong buyer activity pushed the count of Closed Listings to the highest year-to-date level on record – 6% higher than this point in 2020. Home prices continued to see double-digit increases year-over-year for both Single-Family (up 21%) and Multi-Family/Condo/Townhome (up 14%) listings. Year to date, homes are spending an average of two weeks actively available on the market.
My advice: if you’re considering making a move, do it now. Take advantage of this seasonal cooling. We are still seeing a squeeze on inventory (historically), but less buyer activity (re: competition) means that the question of “but, where will we move?” is not as relevant. Unless inventory significantly improves over the next six months, I imagine that once buyer activity picks up again in the spring, we could see an even more competitive buyers’ market than this year – if that’s even possible.
Reach out to discuss more regarding your own home goals.