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You’ve seen stories about our Denver real estate market balancing. The phrase “a buyers’ market” hasn’t been used in our Denver metro area in years. So is it balanced for buyers and sellers? It all depends on the price point and type of home.

For all Denver real estate bought and sold in our area in September, we finished with 2.04 months of single-family homes and 2.12 months of condos available for sale. Since it takes almost six months of inventory to balance a market, we have a ways to go!

But our Denver real estate market this year has been “balancing” – we’ve had more inventory on the market than in 2018. Sellers have reduced their prices more often and listings have lingered on the market for more days. While price appreciation hasn’t reversed, it’s growth rate has slowed down. In fact, our average sales price in September was 6% higher than this time last year.

So where do homebuyers have buying power? If you plan to buy a premiere condo between $750,000 and $999,999 or a $1 million+ single-family home, we have nearly 6 months of inventory.

The further down you go in price point, the greater the demand for listings, and the stronger the market favors sellers. Last month we only had 1.33 months of single-family homes and 1.97 for condos priced between $300,000 and $499,999! It’s a very hot market.

The bottom line, if you plan to buy or sell in our shifting Denver market, get expert advice and guidance through the process. I’d love to help you reach your goals. Call or text me today if you have any questions!

Michelle Oddo
Senior Mortgage Banker & Branch Manager
LeaderOne Financial

O (720) 738-1081
M (303) 961-6906
Michelleoddo@leader1.com

* Source: https://www.dmarealtors.com/dmar-real-estate-market-trends-report-oct-19

If coming up with a down payment is stopping you from buying a Denver home, The Oddo Group with LeaderOne Financial can help. Don’t let coming up with a down payment stop you from building wealth in the Denver market. It’s a great time for you to become a homeowner! We are located in Littleton, CO. Give us a call! (720) 738-1080

The Oddo Group at LeaderOne Financial gives back to a wide spectrum of charitable causes through purchasing client gifts through One Hope Wine.

The Oddo Group at LeaderOne Financial is always looking to help in the community and welcome any suggestions you might have.

Michelle Oddo will lead its efforts in the Metro Denver Area as LeaderOne opens its newest office in Littleton, Colorado. Michelle will be branch manager and a senior mortgage banker. “Providing my clients heightened comfort and a streamlined process, I am truly honored to be offered this amazing role” Michelle comments.

Read more at: https://nationalmortgageprofessional.com/news/72052/michelle-oddo-tapped-head-leaderone-colorado-branch