Market Update: September 2021

Here’s a really quick market update and some brief insights.

I hope you’re having an amazing start to the fall season. Let’s jump right into this market update:

• We had 3,582 active properties on the market at the end of August. That’s across the whole Denver Metro area.

• The average closing price was $614,557 between both attached and detached properties. That’s about a 1% month-to-month decrease but over a 14% year-over-year increase.

• The average days on market was 11. That’s up from July but down over 50% from last year, showing that properties are almost selling twice as fast since then.

This year is the lowest ever for active properties during August.

Here are some additional market insights:

• The top three cities for home price appreciation according to Case-Shiller were Pheonix at 29.3%, San Diego at 27.1%, and Seattle at 25%. Here in Denver, we’re at 19.1%

• United Wholesale Mortgage, the second-largest lender in the U.S. has made plans to accept cryptocurrencies for mortgage payments. We can’t be too surprised with how much everyone is talking about them, can we?

• Among the years we have data for, the average number of properties on the market in August is 16,243. The high was in 2006 with 31,664 properties on the market, and the low is this year!

As always, we are here to help you with anything you need or any questions you might have. Just give us a call.