What: Denver market stats for October are here! Download and post the social media graphic to stay in front of your people, or link to the blog post for a full analysis of the latest data.
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- Download and post the graphic with the message: While the fall is typically a slower season for real estate, Denver saw an uptick in new listings and sold listings. Prices inched up slightly, though inventory remains high as we head into the winter. More numbers at bit.ly/denverstats-oct24 or reach out to talk strategy!
Snapshot: New listings of single-family listings decreased month-over-month but jumped by 27.92% year-over-year. There were also 2,670 closed sales in October, an increase of 5.99% compared to September and 19.14% higher than in 2023. Pending sales increased by 32.95% year-over-year as well. With more activity, the median price was $650,000 compared to $629,950 in September. However, inventory remains high with 7,453 active listings at the close of the month, a YoY increase of 40.92%.
Did You Know? At the start of November, The Federal Reserve announced its second interest rate cut of 2024 (the first in late September), trimming its benchmark rate by 0.25 percentage points amid cooling inflation. A larger impact will likely be felt if another cut comes at the December meeting and into 2025.