After September’s steep drop in home sales, it looks like the market began to stabilize in October, according to a recent update from the Denver Metro Association of Realtors (DMAR).Buyers
Home Sales On The Decline In Colorado
Not just in the metro area, but rather the whole state of Colorado saw a major decline in the number of homes sold in September. The Colorado Association of Realtors recently reported that the number of single-family home listings sold in Colorado dropped 14.6 percent in September compared to the same month a year earlier. Additionally, sales of townhouses and condos dropped 15.2 percent.
Other report highlights include:
Year-over-year single-family home sales in September were down 15.8 percent in Adams County, 17.8 percent in Arapahoe County, 10.3 percent in Boulder County, 11.9 percent in Denver, 16.4 percent in Douglas County and 25.6 percent in Jefferson County
Single-family home sales fell 26.7 percent in Pueblo County, 17.2 percent in El Paso County and 18.8 percent in Mesa County. Fort Collins and Greeley held up better, with a smaller 4.4-percent drop in Larimer County and a 7-percent drop in Weld County.
Mountain communities were impacted as well. Home sales fell in Summit, Grand, Routt, Gunnison and San Miguel counties.
Garfield County, home to Glenwood Springs, represented a rare pocket of strength, with home and condo sales both up more than 5 percent last month.
What’s happening in Colorado is trending with declining sales around the country. According to a recent update from the National Association of Realtors, existing home sales in the United States fell 3.4 percent in August from September to a seasonally adjusted annual rate of 5.15 million. Year-over-year, they are down 4.1 percent.
Is now the time to start looking for your Denver dream home? There’s only one way to find out - contact Metrowest today and we’d be happy to show you around!
DAVE NELSON, 4-time 5280 Magazine 5 Star Real Estate Professional. Dave’s career in real estate has chronicled more than 15 years. Known as a true real estate professional, Dave is experienced i....