Denver Home Sales Slow In October

Dated: 11/07/2016

Views: 613


Image titleA recent Denver Post article indicated a significant drop in metro housing sales last month. The data comes from the Denver Metro Association of Realtor’s most recent monthly report. According to the data, buyers closed on 4,294 homes and condos last month, a 17.5 percent drop from September and 11.4 percent fewer sales than in October 2015. Sellers listed 4,874 homes last month, down by nearly a tenth from the number of new listings in September.


Other report highlights include:


  • October ended with 11.4 percent fewer homes available for sale than in September versus a more typical 5.8 percent decline across those two months. This is actually the largest decline in 30 years, which put Denver’s inventory at a record low in October.

  • About three in 10 sellers had to drop their list price to get an acceptable offer, although that level was similar to the price drops measured the past two Octobers.


According to Steve Danyliw, incoming chairman of the DMAR Market Trends Committee, price reductions are being seen across the board as sellers adjust to the cool down.


  • The median price for single-family home sold in October was $380,000, flat with September and 9.5 percent higher than a year ago. The average price was $440,184, up 0.15 percent from September and up 9.3 percent from a year-earlier.

  • Median condo prices also flat-lined in October versus September at $245,000, but were up a strong 15 percent from a year earlier. The average price of a condo sold, at $293,678 was up 2.5 percent month-over-month and 11.8 percent year-over-year.


With cooling prices hitting the area, this may be the perfect time to find the home of your dreams. Ready to start the process? Contact Metrowest today – we’d love to help!

Blog author image

Andy Potarf

Andy Potarf is a native of Denver and a graduate of Colorado State University. He works with first time homebuyers needing help getting prequalified all the way up to and including seasoned invest....

Latest Blog Posts

How You Can Help Your Community Through COVID19

With concerns about the Coronavirus heightening every day and information updating nearly constantly, droves of Coloradans are coming together to help their neighbors far and wide. It’s important

Read More

Denver Slips In Popularity Rankings For Commercial Real Estate Expansion

For years Denver has been considered one of the hottest markets in the country for real estate and expansions. However, at least among local commercial and real estate pros, it appears that trend

Read More

Top 4 Colorado Cities To Be A Home Seller

If you’re considering selling your home in Colorado, now might be a good time. But if you live in Denver, Arvada, Lakewood, or Aurora, it could be a great time. At least that’s according to

Read More

Im Relocating And Need To Sell My House In Denver Article

https://www.denveribuyers.com/blog/im-relocating-and-need-to-sell-my-house-in-denver/Sell your house fast with multiple offers to chose the right one and net the highest $ to you! Fast, flexible

Read More