The September Market Trends in Denver indicates a continued cooling in the real estate market, characterized by a reduction in both home sales and listings compared to the same period last year. Buyer demand has softened due to economic uncertainty and rising interest rates, leading to longer times on the market and an increase in available inventory. Sellers, in response, are adjusting their expectations, with price reductions becoming more common across various property types.
Despite these challenges, median home prices have remained relatively stable, though slight declines have been noted in certain areas. The overall market is moving toward a more balanced state, as buyers regain negotiating power, and sellers are increasingly willing to compromise to close deals. This trend suggests a shift away from the aggressive, seller-dominated market seen in previous years, reflecting broader economic conditions.
Listing Prices are down 2.3% Percent from Last Year
- In September 2024, the average residence sold for $672,600
- The average single-family home sold for $749,560
- Whereas the average attached home sold for $445,266
September Interest Rates Update
Inventory and Affordability Over The Years
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 11,115 attached and detached homes available in the entire Denver Metro area. Pushing a 3.65% increase from last month in available properties; whereas the numbers are up by 45.69% from September 2023.
Meanwhile, affordability remains in the same range we’ve been seeing over the last year. The median sales price is $576,171 this past month, a -2.34% decrease from 2023 at -1.51%. Leaving September 2023 at a just under a $10,000 higher median price of $585,000.
During this Summer to Fall transitionary season, there are 5,053 new homes hitting the market. Displaying a higher amount of new listings from this time last year at 4,602. The average days on market Denver Metro area is experiencing at a 5.41% increase from last month, showing a continuation of the lengthening lifecycle of a home on the market.
Unsure about how these stats impact you directly? Get a comprehensive market analysis of your particular neighborhood, and don’t miss out on utilizing a Usaj Realty expert as the numbers in each part of town vary greatly.
Quick Stats
This graph provides an overview of active listings, market highs and lows, and new listings. Compare this month’s data directly with previous record-breaking reports and stay informed with insights from realtors, local news, and mortgage updates.
Explore the highlights and see how the market is evolving. For personalized advice and further details, connect with Usaj Realty today.
What makes Usaj Realty stand out?
Founded in 2011, Usaj Realty has always taken pride in aligning our goals with those of our home sellers and buyers. We are dedicated to supporting you from the very beginning, ensuring financial stability and peace of mind throughout the entire process. We understand the importance of securing generational wealth for your future, and we believe we are uniquely qualified to help you achieve that.
Our outstanding agents are here to guide you through the current market trends. Reach out to us today to discuss the latest August Market Stats and to explore the thriving Denver housing market as the seasons change. At Usaj Realty, your goals are our goals.
