Denver Metro homes are seeing price reductions in desirable areas which have not seen price reductions in years. Sellers are needing to take extra steps to property stage and prepare their homes in this shifting market. -
While rates are higher, approaching 7%, Buyers are in luck when it comes to finding their perfect home in the location they want with softened prices and less competition.
The current market shift, from a sellers market to a balanced market, is a good thing. Buyers are now able to negotiate their home purchase through price, inspections and appraisal values.
Sellers are seeing price reductions and longer times on the market, however, the value of their home is still above in year to year appreciation.
This shift from an extreme sellers market to a balanced market will help lead to a win-win experience for both buyers and sellers.
QUICK DENVER METRO STATS
Active listings at months end: 7,290 Closed Homes: 3,315 Average Close Price: $661,335 Days in MLS on average: 28
THE DOUGLAS COUNTY MARKET
A yearly comparison for Douglas County:
Single Family Homes Active Listings 2021 2022 573 978 New Listings 2021 2022 578 442 Days on Market 2021 2022 13 36 Average Price 2021 2022 $771,892 $829,811
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