Denver Housing Market Report September 2021: What's Going On With Denver Real Estate Market Today?
The September 2021 Denver Metro real estate market report is OUT!
It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening if you are thinking of buying a home in Colorado this 2021. Real estate market reports are only the beginning of the process of understanding the changes, opportunities, and challenges in the Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.
Denver Metro Housing Market Report
The August 2021 Denver Metro housing market indicated a slowdown in inventory as the latest report showed the overall month-end active inventory dropping to 11.69% compared to the previous month's real estate statistics. As we transitioned into the preparation for the 2021 school year, it's just in trend with the traditional seasonality. This slowdown in the Denver Metro real estate market made buyers more willing to be more patient in finding the right home for the right price. This doesn't mean that we are now over the strong seller's market. There is a shortage of great homes for sale in Denver, Colorado, and more buyers looking to buy a home in the Denver Metro area which indicates that it's still a great time to sell a home in Denver right now.
The Denver Metro real estate market report for August 2021 still presented the lowest number of active properties on record with only 3,582 properties available on the market at month's end. Compared to July 2021's Denver housing market report, the month-end active listings also decreased by 5.02%. August 2021 Denver real estate market also showed a decrease in average closed price compared to the previous month by 1.09%. While month-end active inventory is historically low for August, there are still plenty of opportunities for both buyers and sellers. For buyers, there have been 5.76% more homes purchased this year compared to the August 2020 report as buyers continue to benefit from low interest rates and an increase in days in the market. On the other hand, sellers can guarantee their homes being sold due to low inventory. This still depicts a win-win situation for both buyers and sellers.
In the August 2021 Denver housing market report, there were 2,469 single-family detached active homes at month-end on the market which showed a 14.21% decrease compared to the previous month and a 25.30% decrease compared to last year. There were also 4,304 new homes listed on the market at month-end which also showed a 15.99% decrease compared to the previous month and a 9.81% decrease compared to the previous year. 3,974 single-family detached homes were sold in August 2021 which again showed a 9.46% decrease compared to the previous month and also a 16.20% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down a bit with an average of 10 days of being live on the market compared to 8 days from the previous month
In the attached market, attached single-family homes in Denver showed a 5.52% decrease in active homes at month-end at 1,113 compared to the previous month and a 49.20% decrease compared to the previous year. There were 1,805 new listings that showed an 11.13% decrease from the previous month and a 10.73% decrease compared to the previous year. There were 1,644 sold attached single-family homes in Denver also showed a 9.87% decrease from the previous month and a 12.23 decrease from the previous year. Days in the market for attached homes are also slowing down a bit with an average of 14 days of being live on the market compared to 12 days from the previous month.
Buying or Selling a Home in Colorado
If you are planning to sell your home in Colorado, now is still the best time as you can still expect multiple offers because of the lesser homes available on the market today. On the other hand, if you are planning to buy a home in Colorado, it can also be a great time as there is now competition which enables you to have more time to look at homes available. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market. If you are looking for great homes for sale in Denver, we can help you.
Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's historic low-interest rates.
To download or see a copy of the full report, click here.