What happened in the Denver real estate market?
Denver Metro Real Estate Update
In July, we saw declines in the average closed price, the number of closings, and the number of new listings to hit the market across the Denver metro area.
However, the “odds of selling” remain strong, standing at 52%. This figure indicates a higher likelihood of successful transactions compared to previous Julys on record, presenting an opportune moment for both buyers and sellers in the metro Denver market.
Price decreases are becoming more prevalent during this back-to-school season too. A significant 37.6% of listings have reduced their prices by an average of -5.3%. If you’re planning to sell, take a hard look at your pricing strategy. We’ll want to be positioned correctly to ensure your home remains attractive to potential buyers.
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Colorado home? Northwest Florida home?
Coffee on me - let’s talk and put together a plan for you. Remember that my team and I can support you from Fort Collins to Denver metro down to Colorado Springs….and northwest Florida!
Drew Morris
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