Report: Denver metro home sales fall, but prices still at record levels

Denver metro winter home sales see shifting trend
Posted at 5:33 PM, Oct 15, 2018
and last updated 2018-10-15 20:28:11-04

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DENVER — If you're looking to buy a home in metro Denver, now might be the time to strike.

Inventory was up 20 percent in September over the same time last year, according to a new report from RE/MAX.

But, there's also good news for sellers in Our Colorado.

Home prices were up for the 30th consecutive month in the data analyzed from not just metro Denver, but 54 metros in the U.S.

And – the fall and winter aren't the same dreary months for home sales seasons they used to be in Denver.

“In September, we had a 20 percent uptick in inventory which is crazy for September,” said Jennifer Oldham, a realtor with Coldwell Banker. “Normally in September, we're seeing inventory come down."

Oldham said winter is now bucking trends that have been the norm for years.

"Every single day I'm seeing houses coming on the market," Oldham said. 

Oldham’s recent listing in Aurora was priced at $485,000.

"I thought it would take three weeks or a month to sell, and it sold in two days," Oldham said.

"In fact, homes aren't selling any slower, and we're still seeing appreciation," said Kerron Stokes, a realtor with RE/MAX.

According to the latest numbers from the RE/MAX national housing report, in metro Denver - total home sales were down 27 percent from August to September.

But, the median sales price was up 6 percent from the same time last year - to $395,000. An all-time high.

"If you go from the speed of light, which was what the market was doing before, to the speed of sound, it feels a little slower. But it's still really fast,” Stokes said. “You're not standing still."

And in fact, in the price range of $250-$350,000, experts say there's still so much excitement and demand, homes are still causing bidding wars.

"This house was listed at $485,000,” Oldham said of her Aurora listing. “I didn't expect it to sell in two days. I really thought it was going to take a month. But boy - buyers were out in force, and they wanted this house."