September 2020 Market Report

The September 2020 numbers are in! Here is what’s happening in the market this fall. I will say, this is still a screaming HOT market!

Average Sold Price – $538,376. We are UP by 12% from this time last year. That is a great increase for Denver Metro; it shows that houses are still appreciating. Why are we having this huge appreciation? Covid-19. Due to the shutdowns in the first and second quarters, the market peak was pushed back by several months.

Showings to Contract – The question sellers most often ask once going active is, “when is my house going to sell?” I have been doing real estate for a long time and the exact moment when you know you’re about to get an offer is when the showings average 1-2 per day. Contract to close is up 3% from this time last year and for September, the average days on market was 28 days.

Pending Listings – in August there were 23k listings and right now in September, we’re at 22k listings in the metro area.

Active listings – Last month there were 5800 active listings and this month we’re seeing active listings at 5200.

Percentage a home sells for – This is essentially what a house is listed at versus what it’s selling for. Right now, in the Denver market, we’re sitting at 100.1%. This is the highest number we’ve been at since 2018 – the last 2 years we’ve been under 100%. These numbers are still high compared to where we’ve been. I’ll delve into this in the video above.

This year fall has been a great time to sell. Start prepping if you want to get it ready for Oct. and November. The market is still really solid.

Curious to know more about the market in your neighborhood or community? Give me a call.

Please keep in mind that every real estate transaction is different, but I’m always happy to sit down and have a conversation and help you look at your options for buying, selling, or investing.

God Bless,
Shane Severson