So, How’s The Market | September 2023

September brought a seasonal slowdown in sales of homes in the Denver Metro Area. Closings were down 17% from last month and down 22% from September 2022.
Prices remained stable from August to September. The price of homes increased only slightly, by 1% from last September.
New listings went down by 5% from August to September and 12% from last September.
Buyer activity slowed as there were 8.5% fewer pending contracts on homes from August to September.

Closings saw a season decrease from August to September of 17%. Closings in September 2023 were 25% fewer than closing in September 2022.

The median closed price of a home in the Denver Metro Area in September was $584,990, this is 1% higher than last year and last month.

Homes spent a median of 15 days on the MLS, this is 2 days less than last year and 3 days longer than August.

In September, sellers brought 4,578 new listings to the market. This is 121% fewer than last September and 5% less than August.

Buyers executed 3,274 contracts on listings. This is 6% fewer than last year and 9% fewer than last month.

The market that includes Multi-Family/Condo/Townhomes and Single-Family Residences saw the most sold in the $500-$600,000 price range. Homes in the $200-$300,000 price range spend the fewest number of days on the market.

Standing inventory was 1% lower than last September with 7,434 homes actively available for sale in the Denver Metro Area. The gross sales volumes in September was 23% lower than last September.