Denver Market Stats: September 2024
What: Fresh Denver market stats for September 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 mortgage rates eased and new inventory slowed, Denver buyers continued to shop around and negotiate deals. Home prices even decreased year-over-year. To talk strategy, feel free to reach out. More numbers at bit.ly/denverstats-sept24.
Snapshot: In September, new listings of detached homes decreased by 2.25% compared to August. And perhaps, with mortgage rates easing, pending home sales increased by 8.22% month-over-month and by 37.54% year-over-year. However, September still closed with 7,656 active listings which is 40.68% higher than in 2023. The median home price last month was $630,000, down from $650,250 in August and a decline of 1.56% year-over-year. Days on market also increased by 27.59% compared to last year.
Did You Know? According to Sam Khater, Freddie Mac’s chief economist, “Zooming out to the bigger picture, mortgage rates have declined one and a half percentage points over the last 12 months, home price growth is slowing, inventory is increasing, and incomes continue to rise. As a result, the backdrop for homebuyers this fall is improving and should continue through the rest of the year.”