September 2018 Denver Real Estate Statistics

The September 2018 Denver Real Estate Statistics show a big seasonal slow down on top of a general slowing down or steadying of the market. September ended with a median sale prices drop, as well as a reduction in the number of sales, and new listings to pre-spring sales season numbers. Despite this market slow down, listing agents are pricing homes at a high average price per square foot of $221. This could help to explain why homes are sitting on the market longer, at an average of 26 days before going under contract. This is great news for buyers who now have more time to find the right home, although historically the winter months offer fewer listings for buyers to choose from. One increase that has remained constant throughout the year is that of interest rates. At an average rate for 30-year fixed-rate mortgages of 4.63% we now have the highest rates we have seen in seven years.

 

September 2018 Denver Real Estate Statistics

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