Housing Update for Denver for September 2015: Inventory levels are rising!
Whether you are buying, selling or investing in a home, your local housing statistics play an important role when considering a move. According to REcolorado, Colorado’s largest MLS and the provider of REcolorado.com, the Denver area continued to slow down in September. The leading cause of this is the market is becoming a more balanced market for buyers and sellers in the Denver Metro area. Inventory levels in the Denver Metro increased to a 2 month absorption rate in September and continue to increase in October where we are now seeing a 3 month supply of inventory. We haven’t see that in Denver all year.
- September Active Listings:
- 9,051 active listings on the market
- Down 1% since last month
- 2% higher than this time last year.
- September New Listings:
- 6,314 new listings
- Down 9% compared to last month
- 18% more than September 2014
- September Inventory Levels:
- 8 week supply
- Higher as compared to the summer months
- September Average Sold Prices:
- Average sold price for a single family home in September was $359,503
- Down 3% from last month
- Up 12% from last year
- September Home Sales:
- Down 5 percent since last month
- 6% decrease year over year
- Average days on market was 24 days
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Sourced from recolorado.com