What: Denver market stats for August are now available. Download and share the latest social media graphic to stay in front of your people!
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Snapshot: Low inventory and high interest rates continue to shape the market. Compared to July, new inventory of detached homes increased by just 1.8% in August and prices remained flat. Year-over-year, new inventory decreased by 6.9% and prices increased by less than one percent. As for sales, just 2,632 homes closed which is 2.7% lower than in July and a decrease of 16.5% year-over-year.
Did You Know? In August, 30% of sellers accepted an offer above asking price, marking a significant drop compared to July’s 37.7% and last August’s 43.7%. To add additional perspective, in one on the hottest months, May of 2021, 72.2% of sellers accepted an offer above asking price.