According to Metrolist, Colorado's largest MLS and the provider of REcolorado.com, September housing numbers for the Denver metro and surrounding area continued to show signs of a slowing market, as autumn set in.
With 8,959 active listings on the market, inventory of available homes in September dipped seven percent as compared to last month. The number of new listings that came on the market was down 14 percent month over month. However, there was a six percent increase over this time last year. Download a copy of the report here.
With regard to average sales price, September brought a slight decrease for the second consecutive month. The average sold price for a single family home in September was $319,819, down three percent from last month. Home prices remain strong, up five percent year over year. Watch this month's market report video, featuring Live Urban broker Mary Lemieux, who visits Denver's Berkeley neighborhood and its many shops and restaurants.
As is typical, with the onset of autumn, September also brought a downtick in the pace of home sales. Month over month, the sale of new homes was down 14 percent and there was a three percent decrease year over year. The days on market measurement remained stable, but low during the month. Homes stayed on the market an average of 30 days, a two-day increase as compared to last month, and 10 days fewer than September 2013. The market absorption rate indicated a steady level of demand for properties. There was a supply of just eight weeks of inventory at September month end.
œSeptember numbers showed customary seasonal cooling following Labor Day, said Kirby Slunaker, President and CEO of Metrolist. œDespite low inventory, we had a strong selling season, particularly in the condo and townhome market.
Read more at ReColorado.com
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