Latest Update: The Denver Housing Market Continues to be Strong.
Analysis and Summary of Denver Housing Market Numbers. How many homes sold Denver in September?
Here you will find a summary of the latest housing numbers, in-depth analysis and expert commentary.
My question is why wouldn’t you spend 38 seconds taking in this amazing information?
Check out what local Denver Experts are saying about the status of Denver’s housing market.
Samantha, an agent in Denver stated
“I was expecting September to be another very strong month and difficult time to purchase a home. Denver set new record highs and the inventory was very low which made purchasing difficult. There looks to be no relief on this front in Denver any time soon.”
Denver Agent Kyle B,
“September was another strong month for Denver in regards to the price in which homes sold. The theme across the board is low interest rates coupled with low inventory. It doesn’t help either that cash home buyers are able to compete by paying fair market prices”
Jennifer - Mother, Denver local, and Expert Investor
The housing market in Denver in September proved again to be hyper competitve. In fact I have never seen such a low inventory. This really puts upward pressure on the price of houses. I am starting to hear about more layoffs around the country. I do wonder if this will trickle down into Denver’s market. If it does we might see a cooling off. A collegue did suggest that interest rates will remain very low for quite some time. Maybe even 2 or 3 years.”
Table of Contents for this Denver Housing Market Report.
1. Expert Opinions and Insight on the Denver Housing Market.
You already devoured that information. It is the quotes you read above. It would seem the Denver property scene is looking good!
2. Next we take a look at the raw data.
This includes expert commentary from local Denver real estate pro’s
3. Then just for you….BONUS: Commentary
A Local Denver Real Estate Investor and small business owner shares his humble opinion. He has been actively buying, selling and lending on property in Denver, Indianapolis and Tampa since 2008. Don’t miss out on a possible gem.
Denver, Colorado Housing Report: The Numbers
Here we present you the latest numbers on single family homes (SFH) sold including average house prices and more, for Denver. Then we elaborate below.
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Amidst the pandemic, the Denver house market did not slow down its pace.
It is on its way to out performing the record-breaking real estate market of last year. Real Estate experts have observed that August 2020 has the most home sales of any month of August. However, the housing inventory dipped the to 40% fewer homes than the market last year. Moreover, the average price for a single-family residential home reached as high as $606,330 because of the high buyer’s demand yet low supply.
However, if you compare the record-high number of home sales in July 2020 in metro Denver, you will notice the 18.73% drop in home sales for August compared to July. But, if you put the total home sales of 5,959, it is the most sales of the month for any records of August. The sales increased by up to 3% compared to 2019 at over $20 billion.
Unfortunately, there was not a lot of homes added to the market in August compared to July. Thus, the active listings at the end of the month reflected how scarce the supplies were.
By the end of August, the number of active listings is recorded at 5,496, which is 41.22% fewer than last year. Moreover, there’s a shortage of 11.13% to the added listings to the inventory as compared to July.
However, despite the scarcity of housing inventory, the pending contracts for all property went up to 7.79% month over month, and 32.64% year over year. Moreover, as the buyer demand continues to grow, the prices continue to increase. Thus, the average price for a single-family home went as high as $606,330 in August, which is a 5.56% increase.
Contribution From a Real Estate Pro… from Sunny California
As you know we love to touch base with other real estate markets throughout the country. We had a fabulous conversation with Jane P, a Los Angeles Real Estate Concierge provider and expert. She had this to say on the Los Angeles real estate market. “Los Angeles home values remain strong, and why wouldn’t they. We have the sand, surf, sun and fun all packaged up into one amazing and highly desirable place to live. Therefore the Los Angeles market is hyper competitive so be sure if you are buying or selling you ask Uncle Google, Who is the best realtor near me?’
Thanks Jane for those great words on the real estate market in California, and more specifically, Los Angeles. HAving travelled there myself on numerous occasions to visit my in-laws, I can attest to all the fun they have out there on the west coast.
In conclusion, August 2020 holds a significant role in bringing solid year-to-date figures as compared to August 2019. It has been recorded to have 62.75% more new listings, and the pending contracts were staggering at 107.48% as compared to last year. Moreover, home sales have increased by up to 52.59%. The Real Estate market is ready for the late surge of inventory as some sellers held off their properties from the listings earlier this year.
Hi, My name is Shaun. That’s me on the right.
I am passionate about learning, innovating and I love helping people. Real estate investing lets me do all of this. I am determined to provide content that is beneficial to you, your family and friends.
There are so many adventurous avenues in Real Estate for me to explore. There are also many practical ways to help the community by providing houses for people to call home or by teaching people the many options and ways they can benefit in the world of real estate.
My mission is to grow communities by providing people opportunities to make a great living, places to live and ultimately providing security and options for themselves and their loved ones.
I am very familiar with the Denver, Indianapolis and Omaha housing markets.
You also have an option to leave a comment. I will be sure to reply.
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