The Denver Housing Market Continues To Be Strong!
The Denver Housing Market continued it's record setting pace again in September. In September more homes closed than any other September on record! We saw 6,303 new closings in September reflecting a whopping 26% year over year increase!
September brought 6,563 new listings representing a 9% increase to this time last year. Buyers are still finding it hard to find homes as the weeks of inventory dropped from 9 weeks last year to only 4 weeks of inventory at the end of September 2020.
Pending listings have also been hot. We saw 26% more homes go under contract this September than last year with 6,341 homes now under contract.
The average closed home price also climbed last month. We saw prices rise from an average of $480,661 in September 2019 to $538,376 in September 2020.
The sales pace is increasing with the average days on market dropping by 10 days now reflecting just 23 days on market at the end of September.
Typically we see seasonal slowdowns this time of year, however 2020 has been anything but conventional. As long as the interest rates continue to be at record lows and the demand remains high, we may see strong sales continue throughout the rest of the year and beyond!
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!
