News

October 2019 Market Report

Hello! For this month’s Market Update I want to first off talk about how Realtors get their statistics. I used a new editing software this month to show my clients exactly what I do every month when I am analyzing the Denver Market, so make sure to watch how it’s done behind the scenes!

Although most agents agree on the general status of the Denver Metro market, every agent has slightly different numbers when it comes to their ‘market statistics’. Why is that? Most agents obtain their statistics from our professional MLS subscription called ReColorado. However, once you are on the statistics page, there are many options for agents to choose from to get their statistics. Every month, I use the same filters to ensure continuity when delivering my information about the Denver market:

All price ranges
Single-family detached residences
All number of bedrooms and bathrooms
All ReColorado registered properties, I do not filter out counties, zip codes, or cities

At a quick glance, here is what October 2019 had in store for our numbers:

Average Price – $511,062, UP by 3% from this time last year
Active Listings – 8040, UP 17% from this time last year
Days on the Market – 34 days on Market, up 4 days from this time last year

My take away? We are still in a strong seller’s market! Good for sellers because they are making money, and even better for buyers who will find strong property values grow after their purchase.

Thanks and God Bless,
Shane