The Denver-Aurora-Lakewood July Housing "Hotness" Score

The Denver metro region slid 73 spots in July to rank #197 out of 300 US metro real estate markets in terms of market activity according to Realtor.com. The new "Hotness" rank for the area is 37.79, which translates to a market that is "Cooling Down" compared to the prior month based on their rating system. This is the second lowest score for the Denver market in over seven years (the reported period). The lowest month was December 2023 when the score was 35.12. Factors that impact the score include an increase in the Median days on market and an increase in available homes for sale. In July, homes sold 24% slower than they did in July 2023 when the score was 55.02 and the market was classified as a "Warm" market. We are all waiting to see what impact (if any) the recent drop in interest rates (and the anticipated possible rate cut in September) will have on the late summer/early fall real estate market given the increase in available homes for sale and the pool of buyers who have been patiently waiting for conditions to change in their favor.

About the Author

Jennifer Wentworth is a Certified Residential Appraiser who provides valuation services for properties in the Greater Denver Colorado Metro Area.