GREATER METROPOLITAN DENVER HOME MARKET UPDATE
WHAT IS HAPPENING IN THE MARKET?
Between now and the end of the year, the Denver home market will see fewer monthly
transactions even while the market remains strong and vibrant.
Mortgage interest rates declined between 25 and 50 basis points in September and conventional
and cash financing tops the list of financing options.
Overall, the Denver market has a two month plus supply of homes available for sale at the
current sales rate. Single Family Residential homes have a 2.42 month supply and Condos have
a 1.87 month supply.
The top five (5) counties for homes sold/closed continues to be Denver, Arapahoe, Jefferson,
Douglas, and Adams, ranked from highest number of closings to lowest.
In the month of September, 5,134 new listings came on the market, 5,337 homes went under
contract, and 4,730 homes closed/sold for a closed dollar volume of $1.44 Billion.
At September month end, the largest block of homes available for sale continues to be in the
price range of $200,000 to $299,999 for Single Family and $100,000 to $199,999 for Condo.
For September Year To Date, 56,578 new listings came on the market, 56,063 homes went under
contract, and 42,667 homes closed/sold for a closed dollar volume of $13.0 Billion.
For Single Family homes closed September Year To Date, 20% were in the price range of
$100,000 to $199,999, 35% were in the price range of $200,000 to $299,999, and 31% were in
the price range of $300,000 to $499,999. For Condo homes closed September Year To Date,
66% were in the price range of $0 to $199,999, and 30% were in the price range of $200,000 to
Consumer confidence decreased slightly in September to 79.7 down from 81.5 in August.
Resale home alternatives of new home builders and rental properties continue to participate in
Distressed properties, while still in the market, are continuing to decrease in relation to the total
In an ever changing market, homebuyers can only remain competitive by doing their homework
and coming to the table prepared. Sellers; keep in mind that buyers are independent, well
informed, and that the first impression of your home should be a lasting impression.
The above representation may or may not reflect all real estate activity in the market.
For some more details and figures for the Month of September click Denver Home Market Update – Sept 2013.