Falling Back Into The Seasonal Rhythm
Late summer vacations, kids were going back to school, the real estate market slowing…all signs of a “more normal” August. The “buying frenzy” was even less, but for sellers, listing a home remained very stable (source: DMAR’s monthly report):
- Home buyers took more time to find the right house as the average Days on
the Market bumped up to 11 days.
- Home Sellers continued receiving a historically high return as our average sales price barely dipped.
- August ended with 0.7% less detached and attached properties on the market than July (the lowest amount of listings ever recorded for an August).
Yes, sellers, it is still a scorching market. With less inventory, the demand remains high. Now is still an excellent time to strategize your home sale.
Buyers, the odds of purchasing are still a little more in your favor than they were a few months ago. And as we approach winter, there’s likely to be even less competition.
Sources: Denver Metro Realtor Association and Megan Aller with First
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