From REColorado:
"The Denver metro areaโs housing market exhibited a notable increase in buyer activity in August, according to the latest report from REcolorado, the stateโs leading multiple listing service. The surge in activity is attributed to a combination of decreasing interest rates and an ample supply of homes on the market.
The influx of new listings has outpaced the number of closings. Since the beginning of 2024, sellers have introduced 41,573 new listings to the market, while 28,224 homes have been closed during the same period. Homes are spending a median of 22 days on the market before sellingโ10 days longer than August 2023 and 5 days longer than the previous month. This extended timeframe reflects a shift in market dynamics, providing homebuyers with more time to make decisions. Overall, the Denver metro housing market continues to evolve with increased inventory, extended home-selling timelines..."
Here are median sales prices for some local cities and towns that may be of interest. A bit of a mixed bag including both ๐ง ๐ฅ compared to one year ago:
๐ Arvada: $685K +4%๐ฅ
๐ Boulder: $1.325 +2.5%๐ฅ
๐ Broomfield: $663K (-11.5%)๐ง๐ง
๐ Erie: $685K -7.4%๐ง
๐ Lafayette: $825K -5.3%๐ง
๐ Longmont: $620K +0% ๐ฅฟ (flat - get it?!)
๐ Louisville: $925K +18.8% ๐ฅ๐ฅ
โโREMEMBER: Real estate is LOCAL. As you can see above, numbers vary greatly from town to town and even by neighborhood!
For specific numbers for your neighborhood, do not hesitate to reach out! - Sally
