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Although increased mortgage rates and elevated home prices continue to impact the Denver metro housing market, people are still selling and buying homes. When looking at historical data, this year has performed similary to the pre-pandemic year of 2019 ~ sales volume over $24 million, median days in the MLS is 11 for 2023 and was 10 in 2019, close to list price ratios both over 99%. When looking month to month, prices and inventory remain consistent with last month. No big changes month to month in closed price nor inventory levels. Buyer activity picked up in October. The number of listings that moved into Pending status in the MLS was 1% higher than last year and 5% higher than last month.
Bullet points with October stats:
~ The median sold price for single family homes (including attached and detached) in October is $585,000 which shows no change from last month (September) and a slight 2.63% increase from last year.
~ The average number of days on MLS in October 2023 was 32 days, which shows a 6.67% increase from last month (September) and a 14.29% increase from last year in October.
~ Active listings at month end are 7482. This shows a 1.93% decrease from last month (September) and a 2.63% increase from last year in October.
~ Average active listings in October are 14,755 (from 1985-2022). The record high October was in 2006 with 29,722 and the record low was in 2021 with 3376. October 2023 shows active listings at month end of 7482.
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
