Another Month Leads To More Records
The Denver Housing Market continued it's record setting pace despite the ongoing pandemic. In Denver a record number of homes sold compared to this time last year!
Homes remained in high demand. Sellers brought 6,876 new listings to market in August. This was much needed as 7,405 homes were placed into pending status.
Home prices continued to stay high posting an 11% increase year over year. Single family home prices surpassed $600,000 in August for the first time with the average home price coming in at $602,191.
Inventory levels remain tight with only 4 weeks of inventory available. This is great news for Sellers as less homes available for Buyers will lead to higher prices and multiple offer scenarios. Buyers will continue to find lots of competition as demand continues to exceed supply.
All indications show that the market will continue to be hot as we head into the fall.
More Market Stats
Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood!
Considering selling or refinancing your home? Get an INSTANT property valuation now!
Contact us today to find out how we can be of assistance to you!
