Denver-area home market continues cool-down
Many key real estate metrics for metropolis Denver dipped in September, demonstrating more slowing in the market as real estate’s busy summer season came to an end.
Average sales prices in the metro area decreased by 3 percent from August to $319,819 in September, according to the latest data from Metrolist, the Denver area’s multiple listing service.
Year-over-year, average prices were up by 6 percent in the metro area.
Home inventory continued its slide, with the number of available homes dropping by 7 percent over the month to 8,959 in September. New listings were down 14 percent in September.
The pace of home sales slowed by 14 percent from August to September and by 3 percent year-over-year in September. Time on market increased by two days to 30 days, 10 days fewer than in September 2013.
“September numbers showed customary seasonal cooling following Labor Day,” saidKirby Slunaker, president and CEO of Metrolist. “Despite low inventory, we had a strong selling season, particularly in the condo and townhome market.”
Condominiums and townhomes continued to sell quickly in September, with average time on market dropping to 29 days, compared to 47 days in September 2013. Average selling price for condos and town-homes increased by 13 percent from $196,039 to $220,994 year-over-year.
Tatyana Sturm and The Storck Team have been helping home buyers from first timers to investors around Southeast Aurora, Centennial and Parker for the last 10 years in our real estate community. Our clients and neighborhood are a true passion of ours, and it shows. If you are considering a move, call The Storck Team!