Metro Denver Market Update : August 31st - September 6th

Labor Day weekend historically represents the end of the major selling season in Metro Denver. This year, new listings fell by 23.5% week over week, under contract transactions decreased by 13.1%, and expired listings spiked up by 86.3%!

We now have 1.6 months supply of inventory with 19 median days on market [meaning that half of all properties are going under contract in the first 19 days or less]. We do typically see a slight kick up in buyer activity the weekend following Labor Day, but the market will likely continue to cool the rest of the year [unless interest rights trend down].

Overall, month’s end stats for August 2022 showed year-over-year appreciation to the tune of 8.4% for detached single-family homes and 3.6% for attached single-family homes.

*All data is from 7 Metro Denver Counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson. Data is deemed reliable but not guaranteed.

At The Aster Lane Group, we practice ethical real estate, meaning that our client’s best interests are our own. We love being here for you.