Seasonal Slowdown? What Seasonal Slowdown?
Another month down and more records set! October just set another record with more homes sold than any other October on record. October posted a 24% increase year over year with 6,368 closed homes!
Pending sales were also way up from this time last year with 6,158 homes going under contact. That represented a 27% increase from October 2019 and a 2% increase from September 2020!
PRICES
Prices continue to soar across the Denver Real Estate Market. The average closed home price for a home across the metro area was $561,197. This reflects a 16% increase year over year and a 4% increase from last month.
The average closed price for single-family homes was $614,090 reflecting a 17% year over year increase and 3% month-over-month increase.
Multi-Family condos & Townhomes closed for an average price of $413,192 posting a 6% year-over-year increase and a 2% month-over-month increase.
New Listings
October brought 6,098 new listings to the market which was 12% higher than October 2019. By the end of October there were only 4,442 active properties on the market. This reflected 46% few active homes that last year and 14% fewer than last month.
2020 has been a very challenging year for many reasons. The housing market has really been one of the bright spots for 2020. Low interest rates, HUGE buyer demand and strong consumer confidence have really driven the market. All indications are the momentum will continue through the remainder of the year and beyond.
More Market Stats
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