September 2018 Housing Market Statistics
The Denver Metro housing market saw a seasonal decrease in the number of home sales, down 15% compared to September 2017. Meanwhile, average sold price, days on market, weeks of inventory, and new listings continue to rise.
View the September 2018 REcolorado Market Watch Video.
Download the September 2018 REcolorado Market Watch Infographic.
Download the September 2018 Detailed Market Watch Report.
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Home SalesIn September, 4,229 homes sold, 15% lower than last year and 25% lower than last month. Year to date, sales are only 3% lower than this time last year. There was also a decrease in the number of homes that went under contract. Throughout the month, contracts were placed on 4,645 homes, a 5% decrease from last month. Home Sales Year-Over-Year Change September 2017 -- 4,994 |
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Sold PricesAverage home prices saw a decrease for the third consecutive month. In September, the average sale price of a single-family home was $457,697, 3% lower than last month. As compared to September 2017, home prices are up 7%. The average price of a single-family detached home was $503,497, up 6% year over year. Prices of condos/townhomes were up 12% from last year, at $394,410. Sold Prices Year-Over-Year Change September 2017 -- $426,843 |
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New and Active ListingsIn September, 5,953 new listings of homes for sale were added to the greater Denver area market, 11% less than last month and 2% more than last year at this time. The count of active listings of homes for sale continued to increase. At the end of September, there were 8,642 active listings, 3% higher than last month and 32% higher than this time last year. We have 9 weeks of inventory, 2 weeks more than last month. New Listings Year-Over-Year Change September 2017 -- 5,850 |
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Average Days on MarketIn September, homes spent an average of 39 days on the market, 6 days more than last month and 6 days more than this time last year. On average, single-family detached homes were on the market for 32 days, while condos/ townhomes were on the market for 55 days. The median amount of time a home spent on the market in September was 14 days, 3 days more than this time last year. More than half of all homes on the market continue to sell in less than 2 weeks. Days on Market Year-Over-Year Change September 2017 -- 33 days |
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The Greater Denver Metro Market by Price RangeIn September, 53% of sales in the Denver metro area were homes priced in the $300-500,000 range. This is also the price range that saw 49% of the new listings that came on the market. Compared to last year, home sales in the $300-500,000 price range were down 11%, which was less than the 15% decrease seen from overall home sales. Homes priced below $400,000 sold the quickest in September, staying on the market an average of 24 days or less.
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