The Denver Metro Real Estate market continues to rise. Sales continue to outpace incoming inventory and price appreciation is still strong.
In many areas, there is less than a two-week supply of homes in the $450,000 and under market. If you run the numbers for $550,000, it’s still less than a 30-day supply. Is it any wonder there is building going on everywhere in the metro area?
September showed that we are in a typical market cycle as the activity was higher than August. It is traditional to see an uptick in sales after the end of summer.
Median prices continue to rise. We are even seeing increases as much as 11% in areas like Parker.
Year to date volume is slightly lower in many areas, that is due to lack of inventory though, not an indicator of a softening market.
The biggest challenge facing our market is a lack of inventory in resale homes. So I’ll do my part to solve that right now by reminding you to call me if you are thinking about selling your home.
My analysis of our market is once again that it is strong, appreciating and likely to continue to do so. This spring will once again be our busiest season of the year, with strong sales volume and the highest price appreciation of 2017. This winter should be steady and perhaps even a bit busier than normal. I think having the elections behind will likely spur activity.
Thanks as always and enjoy this month’s newsletter.