Past Market Trends

Early Spring Market Interrupted
April 2020

The real estate market in March was unusually busy until COVID-19. Market statistics reflected a significant increase win new under contract sales compared to February 2020. The supply of homes for sales increased in March. Average days on market decreased from February 2020. Average sales price increased 5.5% from February 2020. All indications of a strong early Spring market until the COVID-19 restrictions impacted the market in late March. A few highlights from March:

Number of available listings for the month increased by 19.46% from February and decreased 8.2% in a year over year comparison.
Number of Homes Sold increased 12% from February and decreased 5.12% in a year over year comparison.
Single Family Homes placed under contract (pending sale) increased 13.56% from February and decreased 3.93% in year over year comparison.
Average Sold price increased 7.31% in a year over year comparison.
Less that a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer's market).
Average days on market (29) decreased 23.68% from February and 9.38% in a year over year comparison.
Mortgage rates in remained in a range of 3.50% to 3.75% until COVID-19 volatility late in the month.
All data suggested a strong Spring Market unit COVID-19 restrictions hit the real estate market and economy.

Strong market data in March offers hope the market will rebound from the impact of COVID-19 restrictions and related economic distress. However, the economic impact has been dramatic and COVID-19 restrictions change daily. As of April 8, physical showings of homes are prohibited until April 26. April statistics will offer greater insight into the impact of COVID-19 restrictions and related economic distress. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on March 2020 Statistics from DMAR Market Trends

Residential Real Estate Services have been deemed to be an essential service. To learn how the Tom gross Team is serving the needs of our sellers and buyers while maintaining safe practices click on COVID-19

Questions? Let’s talk – contact us anytime to discuss your questions, plans or the current value of your home. If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Early Spring Market
March 2020

The real estate market in February was unusually busy for this time of year. Market statistics reflected a significant increase in new under contract sales compared to January 2020 and year-over-year with February 2019. The supply of homes for sale declined in February and remains historically low which will continue to support the market. Given the market activity in February a strong early Spring market is very likely. A few highlights from February:

Number of available listings for the month decreased by 19.64% in a year over year comparison.
Number of Homes Sold increased 3% from prior month.
Single Family Homes placed under contract (pending sale) increased 13.90% in year over year comparison.
Average Sold price increased 5.04% in a year over year comparison.
Less that a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer's market).
Average days on market (39) decreased 15.22% from January.
Mortgage rates in February remained in a range of 3.50% to 3.75%
Strong sales activity in February combined with a persistent low inventory of homes for sale is setting the state for a strong early Spring market.

Bottom line, current market conditions are generally positive for most buyers and sellers. The low supply of homes for sale will continue to be a dominate market influence in 2020. Favorable mortgage interest rates, low inventory of homes for sale and continued strong demand for homes will foster an active early Spring Market. If a move is in your future, now is a great time to start the preparation process. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on February 2020 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Busy Start
February 2020

The real estate market in January was unusually busy for this time of year. Market statistics reflected a significant increase in new under contract sales compared to December 2019 and year-over-year with January 2019. The supply of homes for sale declined in January and remains historically low which will continue to support the market. Given the market activity in January a strong early Spring market appears likely. A few highlights from January:

Number of available listings for the month decreased by 15.98% in a year over year comparison.
Number of Homes Sold increased 1% in a year over year comparison.
Single Family Homes placed under contract (pending sale) increased 20.09% in a year over year comparison.
Average Sold price increased 3.98% in a year over year comparison.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
Average days on market (45) increased 9.76% from December reflecting season slow-down in sales activity in December
Mortgage rates remained in a range of 3.50% to 3.75%
Strong sales activity in January combined with a persistent low inventory of homes for sale suggests a potentially strong early Spring market

Below is a Denver real estate market snapshot based on January 2020 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Strong Finish
January 2020

The real estate market in December was unusually strong for this time of year. Market statistics reflected a significant increase in closed sales compared to December 2018 and a considerable increase in under contract (new sales) for single family homes compared to December 2018. The supply of homes for sale declined in December and remains historically low which will continue to support the market. Given the strong market performance in December a strong early Spring market appears likely. A few highlights from December:

Number of available listings for the month decreased by 9.68% in a year over year comparison.
Number of Homes Sold increased 10.7% in a year over year comparison.
Single Family Homes placed under contract (pending sale) increased 11.15% in a year over year comparison.
Average Sold price increased 4.93% in a year over year comparison.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
Average days on market (41) increased 17.1% from November reflecting moderate sales activity in November
Mortgage rates remained in a range of 3.60% to 3.85%
Strong sales activity in December combined with a persistent low inventory of homes for sale suggests a potentially strong early Spring market

Bottom line, current market conditions are generally positive for most buyers and sellers. The underlying trend towards a more balanced market may be less pronounced early in the New Year. Favorable mortgage interest rates, low inventory of homes for sale and increased demand for homes may lift the market early in the New Year. If a move is in your future, now is a great time to start the planning process. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on December 2019 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Moderation Trend Continues
December 2019

The market was a bit soft in November which is not unusual for this time of year. Market statistics indicate a decrease in closed sales compared to November 2018 and a considerable increase in under contract (new sales) for single family homes compared to November 2018. Contract cancellations continued at a high-level indicating caution on the part of home buyers. This would help explain the divergence between increasing under contract and a modest decrease in homes sold. The supply of homes remains historically low which will continue to support the market. A few highlights from November:

Number of available listings for the month (6,988), decreased by 7.20% in a year over year comparison. Inventory of condos increased 5.7% in a year over year comparison.
Number of Homes Sold was 3,935 down 22.8% from October and down 5.9% in a year over year comparison.
Single Family Homes placed under contract (pending sale) declined 14.2% from October and increased 15.6% in a year over year comparison.
Average Sold price was $490,874, up 1.4% from October and up 6.8% in a year over year comparison. Breaking it out the average single family home price was $537,624 and the average condo sold was $365,856.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
Average days on market (35) increased 9.4% in in a year over year comparison and increased 2.9% from October.
New construction activity continued at a healthy pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates settled in a range of 3.60% to 3.85%
Underlying trend (declining # of homes for sale, declining # of sales, rising days on market) towards a more balanced market remains intact.

Bottom line, current market conditions are generally positive for most buyers and sellers. The underlying trend towards a more balanced market may have a greater market impact during the holiday season. However, favorable mortgage interest rates and low inventory should help support the market for the remainder of the year. If a move is in your future, now is a great time to start the planning process. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on November 2019 Statistics from DMAR Market Trends

Moderation Trend Stabilizes
November 2019

The market was stable in October which is good news for this time of year. Market statistics indicate a modest increase in closed sales compared to October 2018 and a modest increase in under contract (new sales) for single family homes compared to October 2018. It was reported that contract cancellations continued at a high-level indicating caution on the part of home buyers. This would help explain the divergence between increasing under contract and a modest increase in homes sold. The supply of homes remains historically low which will continue to support the market. A few highlights from October:

Number of available listings for the month increased by 0.21% in a year over year comparison. Inventory of condos increase 15% in a year over year comparison.
Number of Homes Sold declined 6.4% from September and increased 1.6% in a year over year comparison.
Single Family Homes placed under contract (pending sale) increased 1.4% from September and increased 19% in a year over year comparison.
Average Sold price increased 1.2% from September and increased 3.5% in a year over year comparison.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
Average days on market (33) increased 10% in in a year over year comparison and remained unchanged from September.
New construction activity continued at a healthy pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates settled in a range of 3.50% to 3.75%
Underlying trend (rising # of homes for sale, declining # of sales, rising days on market) towards a more balanced market stabilized.

Bottom line, current market conditions are generally positive for most buyers and sellers. The underlying trend towards a more balanced market may have a greater market impact during the holiday season. However, favorable mortgage interest rates should help support the market through the end of the year. If a move is in your future, now is a great time to start the planning process. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on October 2019 Statistics from DMAR Market Trends

Moderation Trend Intensifies
October 2019

Market moderation intensified a bit in September which is not totally unexpected for this time of year. Market statistics indicate a decline in closed sales compared to August and a moderate decline in under contract (new sales) for single family homes in September. It was reported that September saw a continuation of an unusually high number of contract cancellations indicating caution on the part of home buyers. This would suggest there is more than just seasonal factors influencing the market. The frequency of multiple offer scenarios continued to decline in the market. Despite an increase in active inventory on an annual basis, the supply of homes remains statistically low and the demand remains healthy. A few highlights from September:

Number of available listings for the month increased by 5.4% in a year over year comparison
Number of Homes Sold declined 20% from August
Single Family Homes placed under contract (pending sale) decreased 2.5% from August
Average Sold price declined .6% from August and increased 6% from September 2018
The number of list price reductions in the MLS continued to increase
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market (33) increased 22% in in a year over year comparison
New construction activity continued at a healthy pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates were volatile in a range of 3.25% to 3.75%
Underlying trend (rising # of homes for sale, declining # of sales, rising days on market) towards a more balanced market moderately intensified

Bottom line, current market conditions remain generally positive for most buyers and sellers. The ongoing trend towards a balanced market will be more obvious during the holidays and winter season when typical seasonal moderation has a greater impact on the market. Low interest rates should continue to support the market as we enter the New Year. If a move is in your future, now is the time to discuss your real estate plans. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on September 2019 Statistics from DMAR Market Trends

Seasonal Moderation Continues
September 2019

The market continued to moderate a bit in August which is not unexpected for this time of year. Market statistics indicate a decline in closed sales compared to July and a moderate increase in under contract (new sales) for single family homes in August. It was reported that August saw a multi-year high in contract cancellations indicating caution on the part of home buyers. This would help explain the divergence between increasing under contract and declining homes sold. The frequency of multiple offer scenarios has been declining in the market. Despite an increase in active inventory on an annual basis, the supply of homes remains historically low and the demand remains healthy. A few highlights from August:

Number of available listings for the month increased by 14% in a year over year comparison
Number of Homes Sold declined 11% from July and 8% from August, 2018.
Single Family Homes placed under contract (pending sale) increased 18% in a year over year comparison.
Average Sold price declined 1.3% from July and increased 4% from August, 2018.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.
Average days on market (30) increased 31% in in a year over year comparison.
New construction activity continued at a robust pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 3.35% to 3.65% improving affordability
Underlying trend (rising # of homes for sale, declining # of sales, rising days on market) towards a more balanced market continued.

Bottom line, current market conditions are generally positive for most buyers and sellers. The underlying trend towards a more balanced market will have a greater market impact later in the Fall when seasonal moderation begins to have a greater impact on the market. However, dropping mortgage interest rates should help support the market in the Fall. If a move is in your future, now is the time to sell your home. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on August 2019 Statistics from DMAR Market Trends

Seasonal Moderation
August 2019

The market moderated a bit in July which isn't unexpected for this time of year. Market statistics indicate a decline in closed sales compared to June and a moderate decrease in under contract (new sales) for single family homes in July. This would suggest a bit of a late summer lull in real estate activity typically driven primarily by busy summer vacation schedules. Multiple offer scenarios continued in some price ranges and neighborhoods. Despite an increase in active inventory on an annual basis, the supply of homes remains historically low and the demand remains healthy. A few highlights from July:

Number of available listings for the month increased by 23% in a year over year comparison
Number of Homes Sold declined 6% from June and 3% from July 2018.
Single Family Homes placed under contract (pending sale) increased 9% in a year over year comparison.
Average Sold price declined .2% from June and increased 4% from July 2018.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market.)
Average days on market (25) increased 19% in in a year over year comparison.
New construction activity continued at a robust pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 3.50% to 3.75% improving affordability
Underlying trend (rising # of homes for sale, declining # of sales, rising days on market) towards a more balanced market continued.

Bottom line, current market conditions is generally positive for most buyers and sellers. The underlying trend towards a more balanced market will have a greater market impact later in the Fall when seasonal moderation begins to have a greater impact on the market. However, dropping mortgage interest rates may help support the market in the Fall. If a move is in your future, now is the time to sell your home. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on July 2019 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.
Questions? Let’s talk – contact us anytime to discuss your questions, plans or the current value of your home. If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Mixed Early Summer Signals
July 2019

The market was mixed in June. Market statistics indicate a decline in closed sales compared to May and a significant increase in under contract (new sales) in June. This would suggest a bit of a mid-summer pop in real estate activity driven in part by declining interest rates. Multiple offer scenarios continued in some price ranges and neighborhoods. Despite an increase in active inventory, the supply of homes remains relatively low and the demand remains healthy. A few highlights from June:

Number of available listings for the month increased by 28% in a year over year comparison
Number of Homes Sold declined 14% from May and 14% from June 2018
Single Family Homes placed under contract (pending sale) increased 11% in a year over year comparison.
Average Sold price declined .5% from May and increased 2% from June 2018
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market (23) increased 21% in in a year over year comparison.
New construction activity continued at a robust pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 3.75% to 4.00% improving affordability
Underlying trend (rising # of homes for sale, declining # of sales from June 2018, rising days on market from June 2018) towards a more balanced market continued.

Bottom line, current market conditions is generally positive for most buyers and sellers. The underlying trend towards a more balanced market will have a greater market impact later in the year when seasonal moderation begins to impact the market. If a move is in your future, now is the time to sell your home. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on June 2019 Statistics from DMAR Market Trends

Spring Market Surge
June 2019

The market improved significantly in May. Market statistics indicate a continued healthy Spring market with an increasing number of homes for sale complimented by an increasing number of buyers in the market. Multiple offer scenarios continued in some price ranges and neighborhoods. Despite an increase in active inventory, the supply of homes remains relatively low and the demand remains healthy. A few highlights from May:

Number of available listings for the month increased by 38% in a year over year comparison
Single Family Homes placed under contract (pending sale) increased 7% from April.
Average Sold price increased 2% from April and 3% from May 2018.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market decreased 14% in May to 24 days (Increased sales activity)
New construction activity continued at a robust pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 3.85% to 4.25% improving affordability
Underlying trend (rising # of homes for sale, declining # of sales from May 2018, rising days on market from May 2018) towards a more balanced market continued.

Bottom line, current market conditions is generally positive for most buyers and sellers. The underlying trend towards a more balanced market will have a greater market impact later in the year when seasonal moderation begins to impact the market. If a move is in your future, now is the time to sell your home. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on May 2019 Statistics from DMAR Market Trends

Spring Market in Full Bloom
May 2019

Despite poor weather the real estate market experienced the normal Spring jump in activity. Market statistics indicate a healthy Spring market with an increasing number of homes for sale complimented by an increasing number of buyers in the market. Multiple offer scenarios continued in some price ranges and neighborhoods. The supply of homes remains relatively low and the demand remains healthy. A few highlights from April:

Number of available listings for the month increased by 36% in a year over year comparison
Single Family Homes placed under contract (pending sale) increased 4% from March.
Average Sold price increased 4% from March and 2% from April, 2018.
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market decreased 13% in April to 28 days (Increased Spring Activity)
New construction activity continued at a robust pace as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 3.85% to 4.25% improving affordability

Bottom line, spring market conditions appears to be positive for most buyers and sellers. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on April 2019 Statistics from DMAR Market Trends

A Bit of a Bounce
April 2019

We experienced a bit of a bounce real estate in March. Market statistics indicate a healthy real estate market with an increasing number of homes for sale complimented by an increasing number of buyers in the market. Multiple offer scenarios returned in some price ranges and neighborhoods, the supply of homes remain relatively low and the demand remains healthy. A few highlights from March:

Number of available listings for the month increased by 36% in a year over year comparison
Single Family Homes placed under contract (pending sale) increased 20% from February
Homes placed under contract exceeded the number of new listings in March
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market decreased 21% in March to 31 days (Seasonal Spring Bounce)
New construction activity appears robust as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates continued to moderate to a range of 4.00% to 4.25% improving affordability

Bottom line, moderate market conditions appears to be positive for most buyers and sellers. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on March 2019 Statistics from DMAR Market Trends

Soft Landing?
March 2019

We experienced the soft side of real estate in February. Market statistics indicate a healthy real estate market with an increasing number of homes for sale complimented by an increasing number of buyers in the market. Although the extreme “seller’s market” characteristics have moderated in most price ranges and neighborhoods, the supply of homes remain low and the demand remains strong. A few highlights from February:

Number of available listings for the month increased by 47% in a year over year comparison
Single Family Homes placed under contract (pending sale) increased 16% from January
Homes placed under contract exceeded the number of new listings in February
Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
Average days on market increased 22% in February to 39 days (a bit more time for more buyers to shop for a home)
Difference between the list price and the final sale price increased 1% in February to 99% (a bit more room to negotiate)
New construction activity appears to be increasing as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
Mortgage rates moderated to a range of 4.25% to 4.5% improving affordability

Bottom line, a slightly more balanced market appears to be a positive development for both buyers and sellers. Market conditions vary from neighborhood to neighborhood. Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on February 2019 Statistics from DMAR Market Trends

Market Trends
February 2019

The Denver Metro Real Estate Market started the year with a continuation of the ongoing market adjustment. The inventory of homes for sale continues to remain historically low. However, the number of homes for sale has increased significantly in the past seven months from record lows while the number of sales has decreased consistently over the past seven months with a continued drop in sales in December. Average Days on Market continued to increase in January.

On a positive note, mortgage interest rates continued to decline during the month to the 4.25% range due to a shift in Federal Reserve policy. Some of the market weakness can certainly be attributed to normal seasonal factors. However, the significant year over year decline in sales continues to suggest the market is shifting to a more balanced market. The continued weak performance of the market in January is certainly a concern for the short term.

February will be an important month as the market typically begins to improve on a seasonal basis. Many sellers list their homes for sale in February and March. If the inventory of homes for sale increases, as it typically does in February, without a corresponding increase in sales activity it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing.

The relatively low inventory of homes for sale will continue to provide some support for the market. The next few months will be a strong indication if the market shift is just a short-term adjustment or a long-term shift in the market. In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on January 2019 Statistics from DMAR Market Trends

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home. If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Trends
January 2019

The Denver Metro Real Estate Market closed the year with a continuation of the ongoing decline. The inventory of homes for sale continues to remain historically low. However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months with a continued drop in sales in December. The number of price reductions in the MLS continued at a more moderate rate in December. Average Days on Market continued to increase in December.

On a positive note, mortgage interest rates declined during the month to the 4.5% range due to market volatility. Some of the market moderation can certainly be attributed to normal seasonal factors. However, the significant year over year decline in sales continues to suggest the market is shifting to a more balanced market.

The continued poor performance of the market in December is certainly a concern for the short term. January will be an important month as the market typically improves on a seasonal basis. Many sellers list their homes for sale after the holidays. If the inventory of homes for sale increases, as it typically does in January, without a corresponding increase in sales activity it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing.

The relatively low inventory of homes for sale will continue to provide some support for the market. The first few months of 2019 will be an strong indication if the market shift is just a short-term adjustment or a long-term shift in the market. In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on December 2018 Statistics from DMAR Market Trends

Market Shift
December 2018

The Denver Metro Real Estate Market continued to decline in November. The inventory of homes for sale remains historically low. However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months with a continued drop in sales in November. The number of price reductions in the MLS continues at a high rate. In addition, mortgage interest rates are now in the 5% range. Some of the moderation can be attributed to normal seasonal factors. However, the significant year over year decline in sales suggests the market is shifting to a more balanced market. The continued poor performance of the market in November is certainly a poor indication for the short term. If sales continue to decline motivated sellers will have no choice but to lower their price this winter. If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to get ahead of the trend with appropriate pricing and aggressive home marketing. The relatively low inventory of homes for sale continues to provide some support for the market. Time will tell if the market shift is just a short term trend or the start of a long term shift in the market. In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on November 2018 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Market Moderation Continues
November 2018

The Denver Metro Real Estate Market continued to decline in October. The decline was less severe than September. The inventory of homes for sale is still low historically. However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months. The number of price reductions in the MLS continues at a high rate. In addition, mortgage interest rates are now in the 5% range. Some of the moderation can be attributed to normal seasonal factors. However, the significant year over year decline in sales suggests this may be the start of a longer term trend. The poor performance of the market in September and October is certainly a poor indication for the short term. Motivated sellers may have no choice but to lower their price as winter approaches. If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing. The relatively low inventory of homes for sale continues to provide some support for the market. Time will tell if the market moderation is just a short term trend or the start of a shift in the market. In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on October 2018 Statistics from DMAR Market Trends

Market Moderation Accelerates
October 2018

The Denver Metro Real Estate Market declined significantly in September. The inventory of homes for sale is still low historically. However, the number of homes for sale has increased significantly in the past five months from record lows while the number of sales has decreased consistently over the past five months with a major drop in sales in September. The number of price reductions in the MLS continues at a high rate. In addition, mortgage interest rates are now in the 5% range. Some of the moderation can be attributed to normal seasonal factors. However, the significant year over year decline in sales suggests this may be the start of a longer term trend. The poor performance of the market in September is certainly a poor indication for the short term. If sales continue to decline motivated sellers will have no choice but to lower their price as winter approaches. If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to get ahead of the trend with appropriate pricing and aggressive home marketing. The relatively low inventory of homes for sale continues to provide some support for the market. Time will tell if the market moderation is just a short term trend or the start of a shift in the market. In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on September 2018 Statistics from DMAR Market Trends

Past Market Trends

Early Spring Market Interrupted April 2020

Early Spring Market March 2020

Busy Start February 2020

Strong Finish January 2020

Moderation Trend Continues December 2019

Moderation Trend Stabilizes November 2019

Moderation Trend Intensifies October 2019

Seasonal Moderation Continues September 2019

Seasonal Moderation August 2019

Mixed Early Summer Signals July 2019

Spring Market Surge June 2019

Spring Market in Full Bloom May 2019

A Bit of a Bounce April 2019

Soft Landing? March 2019

Market Trends February 2019

Market Trends January 2019

Market Shift December 2018

Market Moderation Continues November 2018

Market Moderation Accelerates October 2018