Top Ten Talking Points | Denver Market | November 1-7
1. Despite a rise in October, active inventory remains tight, with 17.6% fewer single-family detached homes available compared to the historical average from 2013-2019.
2. Pending transactions decreased by 5.0%, and closed transactions were down by 8.9% from September to October.
3. Year-over-year, both pending and closed transactions decreased by -7.9% and -17.9%, respectively.
4. Months of inventory increased by 14.3% month-over-month to 2.4 months, indicating a cooling market in the 4th quarter and providing favorable negotiation opportunities for buyers.
5. Average sold prices slightly increased by 0.2%.
6. Compared to last year, average and median prices are up by 3.6% and 1.8%, respectively.
7. Contrary to the news, 26.7% of homes are selling with multiple offers.
8. Those that sell in the first week are going for, on average, 2.7% over the asking price.
9. Average and median days on the market increased to 30, with 36.6% of homes under contract in 7 days or less, receiving .4% over their original list price.
10. 26.5% of homes sold over asking price, and 69.7% of these offered concessions, averaging around $9,300, primarily for seller points paid.
