- Inventory in Metro Denver has been leveling out for a month now, though up significantly year-over-year (+48.7%). The time to negotiate is now, before listings are pulled off the market for the season.
- Pending transactions had a notable decline week-over-week, dropping by 8.3%, indicating a seasonal slowdown.
- Almost 60% of sellers in the attached home market are offering concessions to buyers, most often to cover closing costs or interest rate buy-downs.
- Days in MLS are up 47.4% year-over-year, this extended time on market is offering buyers more time to make informed decisions.
- With increased competition in the sellers market, nearly 50% of deals going under contract have reduced their price. There is great opportunity for buyers to negotiate.
- Metro Denver is seeing 1.2 shows per property, per week and 16 showings to go under contract. This is up nearly 25% compared to this time last year.
- 17.2% of attached listings are sell for over asking price, though in most cases, these deals closed with sellers concessions to buy down the buyer's interest rate.
- October's Odds of Selling are trending historically low for the season at 34.4%, down -8.4% year-over year. An initial marketing strategy is essential to boost your odds and avoid becoming another stale listing.
- Homes are continuing to take longer to sell, with a 28 median days on market. Ensure your home is market ready, and be prepared for longer timelines.
- With Metro Denver experiencing some of the most dynamic market shifts in history, sellers who resist adapting their marketing strategies risk being left behind and missing key opportunities.
SOURCE: our friends at First American Title
