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Continued cooling marked the October Denver Metro housing market as activity slowed for both buyers and sellers. There were double-digit decreases in both closed and pending listings when compared to last year.
Median sales price continues to see an increase year over year. When looking at the more recent months in our current 2022 year, median sales prices have decreased 8.5% since their peak in April when homes were closing a median of 6% above original list price. In a mere six months, October homes closed at a median of 2.9% below the original list price.
Quick bullet points on the Denver Metro:
- The median sold price for single family homes (including attached and detached) in October is $567,000 which shows an 6% increase over October 2021.
- The median number of days on MLS in October 2022 was 18 days, which shows a 13 day increase from last year in October.
- New listings decreased by 28% in October 2022 from this time last year.
Please reach out with any questions. I am happy to help.
If you have any questions or would like to discuss selling or purchasing a property, contact me today at 303-949-9683 or Amy@MountainTimeRealEstate.com .
