Sunday, September 26, 2021

Denver home prices have fallen for the second consecutive month since peaking in June

According to a report, the median price of a house or apartment sold by the Denver subway fell for the second consecutive month in August, and the price has now returned to the level of April. Monthly update of the Denver Metropolitan Association of Realtors.

The median price of single-family homes sold on the Denver Metro in August was US$581,000, a decrease of 3.15% from July, and a decrease of US$19,000 from the record high price of US$600,000 set in June. The median price of apartments and townhouses sold in August was $375,000, a drop of 1.3%.

This year, the increase has remained strong, with the median sales price of houses and apartments rising by 16.3%.

Sales of houses and apartments were down 9.6% from July and down 15.1% year-on-year. The time to market has also risen from 9 days in July to an average of 11 days in August. Eleven days is still a very fast market, but the volume is not as crazy as we saw earlier this summer.

“The transition from July to August always feels like a huge shift. As the school year and fall preparations begin, the holidays gradually slow down. Traditionally, this has led to a seasonal slowdown in real estate,” DMAR Market Trends Committee Chairman Andrew Abrams said in his comments in the monthly market trends report.

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Denver home prices have fallen for the second consecutive month since peaking in June
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