August 2018 Real Estate Stats
The Denver Metro Association of Realtors Market Trends report for September is out. Here is a quick overview of what August real estate looked like in the 11 county metro area.
The Denver Metro Area is experiencing some of the highest inventory levels we have seen in 4 years and there are fewer multiple offer situations, although move-in ready homes that are priced competitively are still going under contract quickly.
Interest rates are anticipated to increase and appreciation will not be as strong as the past few years, but still a projected to be a healthy 5.6% on average. This means a home priced at $425K right now is estimated to cost $23,800 a year from now with a $286 higher mortgage payment. Overall, that is a 13% increase in your costs for waiting to purchase a home.
While market conditions still favor Sellers, Buyers are in the best position, with the greatest number of choices, we have seen since 2014!
Reach out if you are considering Buying or Selling a home and we can talk about what I do to help my clients succeed!