The Denver Metro Association of Realtors Market Trends report for July is out. Here is a quick overview of what June real estate looked like in the 11 county metro area.
The average sold price of homes in the area increased 1.05% from May 2018 and the price of the average single family home increased by .71% from May to $539,934. The average number of listings for June is 16,854 and at only 7,436 listings for June 2018, we continue well under that.
The movement of the market is pointing towards more balance in the months ahead and that the extreme Seller's market of the past several years may finally have cooled off. Depending on the home price and neighborhood, competition may still exist, but is less fierce which is great news for Buyers.
For Sellers, it is even more important to make sure your home is marketed as well as possible. This means having it staged, professionally photographed, and using a pricing strategy that makes sense for the current market.
Reach out if you are considering Buying or Selling a home and we can talk about what I do to help my clients succeed!