Denver Real Estate Market Stats – September 2017

It’s time for the monthly Denver market stats for September 2017!

I’m happy to report yet again that overall prices are on the rise! Denver continued to be a strong real estate market during the month of September. What does this mean for buyers and sellers? It’s a great time to buy and sell!

For Buyers:

The Denver market shows no indication of slowing down, so that home you’re currently dreaming of is only going to get more expensive as you continue to wait. Yes, it’s a competitive market with limited inventory which only means you need to be strategic when writing offers to make yourself appealing to sellers. From September 2016 – September 2017 multi-family homes appreciated 9.1%, meaning the same home next year could be 9.1% more expensive. Purchase now and pocket that appreciation. 

For Sellers:

The market is currently at a all time high and you will be getting top dollar for your property. If you’re looking to upgrade your home, it’s a great opportunity to use the equity from your property as the down payment on another property. For investors, it’s a great time to sell and use the proceeds to purchase 1, 2, or 4+ investment properties.

Let’s take a look at some of the stats from this past September: 

Average sale price in September: 

  • All homes – $421,000 – 6.9% increase from September 2016
  • Single family – $428,000 – 6.5% increase from Sept 2016
  • Multi-family – $310,000 – 9.1% increase from Sept 2016

Based on the 12-month moving average, which is a better measure of real trend prices, values are up 7.8%. So prices are moving up strongly.

 

The number of closed sales was down in September – 4,494 properties closed this September, which is 7.2% less than the 4,844 closed in September 2016. The number of homes for sale at the end of September was 2.6% lower than Sept 2016.

 

All those are the numbers for metro Denver as a whole, but trends vary by area, price range, type of property etc. If there is a specific zip code that you’re interested in learning more about please send me a message below!

 

 

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