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This time of year the housing market tends to see a drop in activity as people get their final summer vacations in and plan for the upcoming school year. This year followed suit. Both closed units and volume dropped by 2% in August as Summer came to an end and schools are back in session. Closed-to-list crept down to 99.46%. Inventory remains low and Buyers are viewing more homes before making a decision as days on market increased.
The median price of a Denver Metro area home was $582,000 in August 2023, which shows a slight 1.36% decrease month over month and a slight 1.22% increase year over year.
Bullet points with August stats:
~ The median sold price for single family homes (including attached and detached) in August is $582,000 which shows a 1.36% decrease from last month (July) and a slight 1/22% increase from August 2022.
~ The average number of days on MLS in August 2023 was 26 days, which shows a 13.04% increase from last month (July) and a 36.84% increase from last year in August.
~ Active listings at month end are 6858. This shows a 8.87% increase from last month (July) and a 1.17% decrease from last year in August.
~ Average active listings in August are 15,900 (from 1985-2022). The record high July was in 2006 with 31,664 and the record low was in 2021 with 3582. August 2023 shows active listings at month end of 6858.
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 .
#RealEstate #MarketStats #DenverMetro #MountainTimeRealEstate
