September 2022 Real Estate Snap Shot

August 2022 showed a much needed end of summer reset for Denver Metro housing.

Even though homes took longer to sell, we still ended the month with only 1.98
months of inventory for both detached and attached homes. Believe it or not, our
inventory was actually down 18.50 percent from the prior month for detached and
attached homes but was up 18.90 percent from one year ago. More inventory has
been a blessing for our market and what we've needed for some time. This reset is
good and healthy. While the headlines may not seem positive, we're delighted and
welcome this somewhat balanced market

The Signature Market represents 15.76 percent of the homes that came on the market in August, and our sales volume for attached and detached homes was down 11.11 percent from the prior month and down 5.09 percent from one year ago.

Learn more about what's happening in this month's Market Trends Report

DMAR Real Estate Market Trends Report | SEP 22'

Stunning ADU In Berkeley - 4457 Xavier St #1/2 | Denver - Berkeley | $2000/MO

 

Make this super cute 641 square foot, 1 bedroom, 1bath ADU your next home. Available furnished or unfurnished and located in one of the hottest neighborhoods in Denver! Close proximity to Tennyson Street, Berkeley Lake, restaurants, bars, and great coffee shops. A private entrance and single car garage make living here a breeze. Available September 23, 2022. Property is available furnished for a minimum of a 3 month lease at $2500 per month.

August 2022 Real Estate Snapshot

The data confirms that the Denver Metro area is no longer in a shifting market. Instead, it has shifted, and the real estate market is more balanced. Month-over-month, the market is down 3.33 percent but compared to last year, it is still up 11.04 percent, indicating that a more balanced market, combined with slightly decreasing interest rates, may create opportunity for those who previously felt burned out on the process.

One of the primary indicators of a shifted market is the close-price-to-list-price ratio, which was down to 100.81 percent. Buyers have become more specific about what they are looking for and frequently question if, and how much, below the asking price they can offer. Gone are the days that a seller can simply put a sign in the yard and expect their home to sell.

Every indicator points to the market shifting closer to a buyer’s market. The month-end active listings increased 21.53 percent last month. Pending and closed deals decreased and days in the MLS increased by exactly 30 percent. However, the market is still far from what many experts would consider a buyer’s market. There are over 2,000 fewer properties on the market today than there were three years ago and, during the last three years, the amount of standing inventory peaked in June and July, which was abnormal. Historically, the market doesn’t peak until August or September.

**Data Source ReColorado

New Listing in LoDo Streetcar Stable Lofts

The Modglin Collection presents this stunning newly renovated designer loft in Streetcar Stables! Streetcar Stables was once home to Denver City Railway Company and was a stable and passenger waiting room for horse-drawn streetcars to serve the Denver Community. In the early 1990s it was converted into lofts and the first residents took possession in 1994. This stunning loft features new gleaming hardwood floors, gorgeous brick and beam architecture, an open kitchen with an extended buffet area, new designer cabinets and lighting, a washer and dryer in the unit, one garage parking space, and one storage space. Enjoy all the amenities that LoDo has to offer like Union Station, Coors Field, Ball Arena, Denver Center For the Performing Arts, and Empower Field at Mile High. Close proximity to great restaurants, entertainment venues, trails, parks, and so much more. Discover life in LoDo and make this your next place today!

Photos by Muntz Studios

Staging by: Pineapple Interiors

Video by: Realti Hub