In keeping with past seasonal trends, the Denver Metro Area housing market saw fewer home sales in September 2018. Home prices continue their steady rise, with average sold price in September 7% higher than this time last year.
During the fall and winter months, home buyers and sellers can take advantage of a slower pace or make preparations for next year.
Seasonal Cooling in the Colorado Housing Market
As the weather cools, we often see a seasonal slowing in the Colorado housing market. Fewer homeowners are interested in moving into a new home during this time of year. This time is often spent preparing for winter, knowing the holiday season will soon be upon us. The latest housing market data from REcolorado show this trend held true in the Denver this September.
In September, 4,229 homes sold across the Denver Metro area, 25% lower than last month. There was also a decrease in the number of homes under contract, 5% fewer than last month. However, year-to-date sales are only 3% lower than this time last year. Learn more in the detailed market watch report from REcolorado.
If you want to buy or sell a home now…
Home buyers can benefit from a slower pace this time of year. Homes spent 6 days more on the market on average this September compared to last month, with a median of 14 days on the market. That means that more than half of the homes on the market continue to sell in less than 2 weeks.
There is also more inventory from which buyers can choose. At the end of September, there were enough homes for sale in the Denver Metro area to last 9 weeks.
Connect with a REALTOR® to learn about housing market trends in the neighborhood or city where you’re interested in purchasing or selling a home. Your real estate agent can provide tailored advice based on local data and your personal goals and situation. Find an experienced agent near your on REcolorado.com.
If you want to wait until next year to buy or sell a home…
It isn’t too early to start talking with your REALTOR. Spend this time preparing for the housing market next year. Steps you can take now include looking closely at your finances, saving for a down payment, and getting to know neighborhoods.
If you’re considering selling your home, now is a great time to begin any home projects to increase value. You should also prepare to sell your home by making your to-do list, taking care of repairs, and doing your research.
Whether you decide to act now or wait to buy or sell a home, an experienced real estate agent can be incredibly valuable. Talk with your agent to determine what’s best for you.