As summer turns to fall, everyone is wondering how the Denver real estate market is faring. Metrolist released its August statistics this week, revealing that the Denver real estate market has definitely stabilized over the past few months.
While the year-over-year picture still isn’t pretty (single-family and condo sales dropped 14 percent from August of last year), the average sales price for a single-family home decreased a mere .68 percent from last year. This is quite a feat, considering that the country has been in the midst of a severe economic and real estate downturn during this time.
Another promising piece of news is that homes sold more quickly in August than in July and last year. The average number of “Days on the Market,” or DOM, in August for a single-family home in Denver is 94, which is a three percent decrease from last year.
If you haven’t taken advantage of the strong buyer’s market, now is the time for you to do so. For more information on the Denver housing market, please contact TeamCox Realtors at 303-400-6060.
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If you are looking for a home in Denver and the surrounding area then contact TeamCox for professional Real Estate Assistance