September 2019 Housing Market Statistics
Although we saw seasonal cooling month over month, the Denver Metro Area housing market remained strong in September year over year. At the close of the third quarter of 2019, all major year-to-date indicators are up compared to last year. Home prices continue to increase, but at a slower rate, as we've seen relatively level pricing since May. Strong demand from buyers drove homes under contract up nearly 25% compared to this time last year.
In the Denver Metro Area this September, 4,831 homes sold, a year-over-year increase of 10%. As compared to last month, sales saw a seasonal 15% decrease.
Year to date, 44,539 homes have sold in 2019, 1% more than this time last year.
In September, contracts were put in place on 5,387 homes, up 24% from last year and down 4% from last month.
Home Sales Year-Over-Year Change
September 2018 -- 4,409
In September, the average price of a single-family home was $482,067. Prices saw a slight decrease for the fourth consecutive month, down 1% from last month. Year over year, home prices are up 6%.
Single-family detached homes sold for an average price of $532,591, up 6% year over year. The price of condos/townhomes was up 3% from September 2018, at an average of $357,746.
Average Sold Prices Year-Over-Year Change
September 2018 -- $456,022
New and Active Listings
Throughout the month, sellers brought 6,038 new listings to the market, up 2% compared to last year, but a seasonal 11% decrease from last month. Year to date, new listings are up 5% compared to last year at this time.
The count of active listings of homes for sale at the end of September was 9,491, 10% higher than last year and less than 1% lower than the end of last month.
We currently have 9 weeks of inventory, unchanged from last September and 2 weeks more than last month.
New Listings Year-Over-Year Change
September 2018 -- 5,944
Average Days on Market
In September, homes spent an average of 41 days on the market, unchanged from this time last year and two days longer than last month. On average, single-family detached homes were on the market 39 days, while condos/townhomes were on the market 48 days.
The median amount of time a home spent on the market in September was 18 days, 4 days more than this time last year.
Days on Market Year-Over-Year Change
September 2018 -- 41
Year To Date
All arrows point up for the Denver Metro housing market at the conclusion of the third quarter. Strong demand from buyers helped sales inch up 1% higher than this time last year. Buyers brought new listings to the market, which kept inventory levels steady. Home prices saw increases, but at a slower rate.