Denver market stats and update for October 2021

[James Carlson]

Market stats came out yesterday, and it's always fun (at least for me, a real estate agent who likes stats) to take a look at what's happening.

Big picture? Buyers have a little more power than they did six months ago but less power than they did a year ago. 

The report by the numbers:

• $585,000 -- median detached home price. That's up slightly from the previous two months but lower than the high summer months when it topped out at $600,000. Year over year, the median SFH price in Denver is up 14% from this time last year.
• 11% -- the decrease in active SFH listings from this time last year. We definitely have more inventory than we did this summer (good for buyers). But the inventory is still less than a year ago (bad for buyers).
• 14 -- average days a SFH sat on market in Denver. That's slightly higher than in previous months but 40% lower than a year ago, so again, better for buyers relative to this summer but not relative to last year. Anyway, the average is always a bit skewed. The median days on market was 5 days, meaning a home is listed on Thursday and under contract by Monday.

What does this mean for buyers? As with everything in real estate, there's no black and white answer. It's a little better right now, and if you are ready to buy, then get with a solid agent who can help formulate a plan to find success in this market.