Denver Real Estate Update: Fall 2018

Posted on at 2:48 pm by Andrea Webber

During this “spooky season,” I’ve been asked frequently how the Denver real estate market is faring? LIV Sotheby’s International Realty compiles regular reports that provide valuable insight into the state of the Denver real estate market. The most recent third quarter LIV Sotheby report, released in mid-October, gives a solid analysis of the current Denver real estate market conditions from January 2018-September 2018. Here are a few of the report’s findings:

  • For January through September 2018, many of the Denver real estate market’s most important barometers remained close to strong 2017 numbers, including the number of new listings, listings sold, days on market, and percentage of sold-price to original list-price.
  • The average price rose in 2018, posting a .6% increase in average price for single-family homes (rising to $515,455 in 2018) and an 11.3% increase in average price for attached dwellings (rising to $347,707 in 2018).
  • Rising interest rates have impacted Denver homebuyers who are entering the fall housing market due to decreased buying power. However, rising interest rates should not deter potential homebuyers from purchasing their dream home.
  • As always, there is limited inventory of Denver homes for sale as the Denver Metro area continues to attract new buyers. The rate of available housing lags slightly behind demand even with the steady development of new homes.
  • Buyers should be prepared to act quickly once they find their dream home so, as always, we recommend enlisting the help of a trained professional in your home search.

So, the answer is yes, the Denver real estate market has cooled down a bit this fall due to a typically slow time of year coupled with rising interest rates. This is not all bad news since it will give both Denver homebuyers and sellers a chance to catch their breath until the busy spring season hits again in just a few months.

For more information on Denver real estate market trends, please contact Andrea Webber at 303-475-7057.

View LIV Sotheby’s Third Quarter Market Reports

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