Active listings tin today’s real estate market for single family and condominiums in the Denver metro area decreased in October from September. This is good for homesellers who currently have their home on the market. According to Metrolist Inc., the inventory decreased by 3.4% and the entry price point up to $250,000 for a home has a 5.89 month supply. For home buyers, interest rates remain at 40 year lows for a 30 year fixed rate mortgage. Call if you would like an update on what’s happening in real estate in your neighborhood!
How’s the real estate market?
October 8, 2010 Leave a Comment
Important things to note in the Denver real estate market:
*The pace of home sales is slowing. The total volumn of Metro Denver home sales dropped 23% from September 2009 to September 2010.
* Inventory of homes on the market in September 2010 is up 18% over August of 2010.
* Home sales experienced a big decline after the tax credit expired on June 30, 2010. From June to July the decline was 19.5%, from July to August it was 5.5% and August to September it was 3.9%. This shows we ‘forward sold’ for those spring months and now the market is returning to normal activity.
