August 2018 Real Estate Market Report

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How is the greater Denver Area market doing? As a whole, single-family homes, townhouses, and condos, the market has seen supply levels show the largest jump this year (new listings) from last year to 7.9%, but, overall inventory is still down 9.5%.  Demand has been steady with a moderate increase with Pending up 3.7% but Sold’s down just 2.7%.  These factors have contributed to the increase in median and average sales prices at 6.7% and 9.3%. If you are looking to sell and are priced correctly, figure the average days on market to be around 25 (unchanged since last year) and can expect to receive on average 99.5%, down just .3%.  In conclusion, we are still in a seller’s market but the first winds of change are starting to appear; from the increase in new listings, and the rise in interest rates, sellers should pay attention and buyers can be wise as prices might be starting to fall but waiting could also hurt if interest rates continue to rise.

For the complete report, details click here!

Total Market Overview Report Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics August-17 August-18 % Change YTD-2017 YTD-2018 % Change
New Listings 7,636 8,243 +7.9% 57,763 60,406 +4.6%
Pending / Under Contract 6,325 6,560 +3.7% 47,649 49,249 +3.4%
Sold Listings 6,793 6,610 -2.7% 45,018 46,329 +2.9%
Median Sales Price $375,000 $400,000 +6.7% $371,645 $400,000 +7.6%
Average Sales Price $426,525 $466,264 +9.3% $427,049 $464,623 +8.8%
Percent of List Price Received 99.8% 99.5% -0.3% 100.1% 100.1% +0.0%
Days on Market Until Sale 25 25 0.0% 27 27 0.0%
Housing Affordability Index 97 84 -13.4% 98 84 -14.3%
Inventory of Active Listings 13,022 11,782 -9.5%
Months Supply of Inventory 2.3 2.0 -13.0%

For the individual areas within the North Metro Denver Area please see the links below.

Real estate market report Arvada August 2018

Real estate market report Boulder August 2018

Real estate market report Broomfield August 2018

Real estate market report Brighton August 2018

Real estate market report Erie August 2018

Real estate market report Lafayette August 2018

Real estate market report Longmont August 2018

Real estate market report Louisville August 2018

Real estate market report Firestone August 2018

Real estate market report Frederick August 2018

Real estate market report Superior August 2018

Real estate market report Thornton August 2018

Real estate market report Northglenn August 2018

Real estate market report Westminster August 2018

 

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