July Market Stats Are in! From REColorado:
"The Denver Metro housing market experienced a slight cooling in July, as is typical during the summer months. While the market continues to show signs of adjustment, there are also positive indicators for both buyers and sellers.
Sales and Prices
According to REcolorado MLS data, the number of home closings in July dipped slightly compared to the previous year and month, suggesting a more balanced market. Despite this, the median closed price for Denver Metro homes remained steady at $600,000, marking a 2% increase from the same time last year.
Inventory and Competition
A notable trend in July was the increased inventory of homes available for sale. New listings were up 11% compared to the previous year, contributing to the highest inventory levels seen in a decade. With more choices available, buyers have had slightly more leverage in the market. Consequently, homes are spending more time on the market. The median time for homes to go from active to pending status increased to 16 days in July, a week longer than the previous year. Continue reading: https://www.facebook.com/HeldmanRealEstate
