Denver Houses are Selling FAST!
Updated: Oct 22, 2020
Red Alert! The Denver real estate market is absolutely bananas! Or nuts! Or whatever food indicates major price increases and super-fast sales.
Key takeaways: -Single-family homes are up 9% (average closing price) versus last July. -Houses are selling FAST! Check out this table to give you an idea, specifically single-family homes priced below $500,000. This is just for July. 1419 houses sold, and only 700 for sale on July 31. Why? Money is cheap! Per Denver Post: DMAR Chair Jill Schafer notes that even though buyers paid $54,326 more to buy the averaged-priced home in metro Denver this July than they did last July, those buyers ended up paying $2 less a month in payments based on a 30-year mortgage rate of 2.99% in July versus 3.75% a year ago. Yes, the houses cost more. No, the monthly payments haven't gone up. Maybe 2020 isn't all bad? Contact me if you would like to pay less for more house - It's real.
You can view the full monthly market report here: https://www.dmarealtors.com/…/dmar_markettrendsreport_augus…