1. Expired listings have rose 41.4% month-over-month. While many sellers are waiting to re-list in spring, this creates a prime opportunity for buyers to negotiate with those motivated to sell now.
2. Approximately 50.6% of all October sales closed below the asking price, emphasizing seller's willingness to negotiate to finalize deals.
3. In October 2024, Denver Metro saw nearly 7,000 homes on the market — a 230% increase from the same time 2021 — providing the highest inventory in over a decade.
4. Average days on market reached 43 days, up 38.7% year-over-year, allowing buyers more time to evaluate options and make informed decisions.
5. Despite a stronger-than-expected fall market, roughly 30-35% of contracts are falling through, primarily due to inspection and insurance issues.
6. It is taking an average of 15.8 showings to go under contract, if you're seeing greater than 16 showings without an offer, it might be time to consider a price reduction.
7. Active listings fell by 4.4% month-over-month, as listings begin to pull from the market for the season, this is a great time for remaining sellers to capture serious buyer attention.
8. Showing activity has increased 30% year-over-year, indicating a stronger fall market and greater buyer interest than we saw in the fall of last year.
9. Despite a longer average market time, 27.3% of listings went under contract within in seven days or less, often closing at or above the list price (100.3%), emphasizing the advantage of a well-priced, ready-to-show home.
10. With 61.6% of transactions including seller concessions, be prepared to negotiate if your listing isn’t under contract within the first week.
SOURCE: our friends at First American Title
