ππ‘π August stats are in!ππ‘π
The Denver metro areaβs housing market exhibited a notable increase in buyer activity in August, according to the latest report from REcolorado, the stateβs 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 sellingβ10 days longer than August 2023 and 5 days longer than the previous month.
Here are median sales prices for some local cities and towns that may be of interest. A bit of a mixed bag including both π§ π₯ compared to one year ago:
π Arvada: $685K +4%π₯
π Boulder: $1.325 +2.5%π₯
π Broomfield: $663K -11.5%π§π§
π Erie: $685K -7.4%π§
π Lafayette: $825K -5.3%π§
π Longmont: $620K +0% π₯Ώ (flat - get it?!)
π Louisville: $925K +18.8% π₯π₯
ββREMEMBER: 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 (303) 475-4508
