Anthony Rael serves as Chairman of the Denver Metro Area Market Trends Committee on behalf of the Denver Metro Association of Realtors (DMAR)
denver real estate market stats, mls housing stats, sold listings, new listings, single family homes, condos, townhomes, short sales, median sales price, days on market, bank-owned, reo, pending sales, affordability index, market trends, months supply, market overview, REMAX Alliance Arvada

September 2014 Denver Real Estate MLS Statistics & Trends Report
for August 2014 MLS Statistics

"At first glance, you might think the Denver real estate market decided to participate in the ALS ice bucket challenge as sales activity cooled.  On the residential side, we experienced an 11.35% dip in sold homes while the previously hot condo market dipped 7.87% compared to the previous month.

Realtors across the board echo the same sentiment, ‘buyers were not rabid about finding a home as they were in previous months during the frenzy. As things slowed down and sellers jumped into the market late, some were left wondering where the sea of buyers and multiple offers had gone. Many who were priced at the top of the market found themselves with fewer requests for showings, were sitting on the market longer than expected, and eventually had to entertain lower-priced offers.  The Denver market slowdown was partly due to seasonality as some folks wrapped up vacations or scrambled to prepare for the start of the new school year, which seemed to come early this year. However, there's no need for sellers to become discouraged, as they've done pretty well in terms of appreciation, considering year-over-year, the average sold price increased 5.77%, and the median price increased 7.71%. However, sellers who wish to sell for top-dollar will have to consider making some updates and improvements such as carpet, granite countertops, and new appliances, if they want to attract serious buyers and strong offers.

In August, the average sale price was $330,245 (down 1.48% from July) and the median sales price clocked in at $277,900 (down 1.80% from July). As we've been reporting the past few months, the hot price ranges continue to be $200k to $299k for single family and $100k to $199k for condos. Year-to-date, sales of single-family homes is down 10.93% but the condo market has experienced a 23.04% increase in sales.  Many brokers are feeling like the market will bounce back in September and the selling season will remain strong heading into fall and throughout the holidays. Consumer confidence and affordability are up and mortgage interest rates are down to 4% - making it great time for buyers who may have missed out during the frenzy. This is their opportunity to get back into the hunt for a great property and perhaps even have a little negotiating power."

- Anthony Rael, Chairman - Denver Metro Association of REALTORS Market Trends Committee


MLS Market Matrix - August 2014 - Denver Metro Association of Realtors DMAR

MLS Market Matrix - August 2014 - Denver Metro Association of Realtors DMAR

DMAR Expert Realtor Opinion - Denver Metro Association of Realtors - August 2014 MLS Market Trends & Statistics
 

Glossary of Terms for Real Estate Stats
What is Median Sale Price?
What are Active Listings?
What are New Listings?
What are Sold Listings?
What is Pending/Under Contract?
What are Days on Market?

What is the Affordable Housing Index?
What are Months Supply of Listings?

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