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What does Denver Metro’s Real Estate market change mean for buyers and sellers?

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After a year of record-breaking buying and selling activity in Colorado, it appears as though the red-hot market is finally cooling off. In Denver and surroundings, sold homes ↓ 9% YoY in August, indicating a return for the market. In August, the odds of selling for homes in Denver Metro ↑ 2.9% MoM to 77.8%, illustrating the sellers’ good position in the marketplace. Denver Metro avg sold price ↑ 16% YoY to $607K through August, therefore accurately pricing and marketing homes will be crucial. The number of showings ↓ 0.2% YoY in August; this reduction may provide buyers with the chance to win an offer this fall. In the luxury sector, including > $1M homes, listings sold ↑ 35% to 470 homes, and avg sold price ↓ 1% YoY to $1,575,018.

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