October 2018 Market Analysts for Home Sales in Metro Denver

In keeping with past seasonal trends, the Denver Metro Area housing market saw fewer home sales in September 2018. Home prices continue their steady rise, with average sold price in September 7% higher than this time last year. During the fall and winter months, home buyers and sellers can take advantage of a slower pace or make preparations for next year.

Seasonal Cooling in the Colorado Housing Market

As the weather cools, we often see a seasonal slowing in the Colorado housing market. Fewer homeowners are interested in moving into a new home during this time of year. This time is often spent preparing for winter, knowing the holiday season will soon be upon us.
In September, 4,229 homes sold across the Denver Metro area, 25% lower than last month. There was also a decrease in the number of homes under contract, 5% fewer than last month. However, year-to-date sales are only 3% lower than this time last year. 

If you want to buy or sell a home now…

Home buyers can benefit from a slower pace this time of year. Homes spent 6 days more on the market on average this September compared to last month, with a median of 14 days on the market. That means that more than half of the homes on the market continue to sell in less than 2 weeks.
There is also more inventory from which buyers can choose. At the end of September, there were enough homes for sale in the Denver Metro area to last 9 weeks.


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