Denver Real Estate Statistics – August, 2017
SEASONAL MARKET SLOWDOWN IN DENVER
It’s that time of year – when the real estate market cools down and there is some relief in the market! Are you thinking of buying? Now is a great time to get serious about it. The average sold price has decreased, and the length of time a home stays on the market has increased, so statistics are now working in the favor of buyers. This is consistent for this time of year, as August historically produces a slow down in the market. Price reductions are more common as the summer real estate frenzy has died down.
Sellers: there is no need to worry about your numbers. Statistics are still up from last year. The average sale price for residential properties is up over 8% year-over-year, and the median sale price has climbed even more than that, at 8.57%. Your home value is still looking good and strong, and selling is still a great option at this time.
Also positive to note is that Denver is one of the “best real estate markets in the country”, according to WalletHub. Thornton, Aurora and Arvada all made the list as well, proving that our market is strong and still one to watch.
What’s the bottom line? If you’re thinking of buying, let’s talk! We can look specifically at your situation – where you are looking, your price range, etc – and we can strategically pinpoint the best home for your needs while getting the best price for this market.
Sellers, we can take a look and see if it’s still a great time for you to put your house on the market or if waiting is your best option at the moment. Depending on your home, you might be surprised at what we find!
I’m always available to discuss the market! Even if you just want to talk more about what all of these numbers mean to you, I am happy to chat. CONTACT ME and I can show you a custom report for your needs to get you the most out of our unique Denver real estate market!