Sally's Monthly Newsletter + September Market Stats
Happy Fall Everyone!
Lower Interest Rates and Increased Inventory Spur Denver Metro Homebuyers in September
Lower interest rates and a dip in home prices have inspired buyers to re-enter the Denver Metro housing market. According to REcolorado's September data, 3,805 home contracts were executed, marking a 28% increase from the same time last year and a 5% rise compared to August. The motivation comes as potential buyers found a broader selection of homes available, with inventory levels not seen in a decade. Sellers contributed to already high inventory levels by adding 5,029 new listings to the market in September-10% more than last year-though slightly fewer than in August.
Homes are spending more time on the market before selling, with an average of 26 days in REcolorado's MLS system, an 11-day increase compared to last September and 4 days longer than August's average. Active inventory surged by 50% compared to last year, with 11,143 homes listed for sale by the end of September.
Continue here:
https://sallyheldman.myhomehq.biz/single-newsletter/cc/sallys-monthly-newsletter--september-market-stats
