The Current State of Denver Real Estate - October 2024

Based on the market statistics provided by SMDRA in the chart for October 2024, you can see that housing prices in Denver have historically increased year over year. Some of those increases are positive, as they show an increase in sales, pending sales and price, but some show an increase in supply and days on market. Interest rates had started to tick down during the month of September but are expected to remain around 6% for home mortgages.

The buyers that are out there are being picky and looking for deals. (Great news for BUYERS!) Depending on the price point and whether it’s a single family home or a townhome/condo, prices are adjusting downwards if the listing hasn’t gone under contract within the first couple of weeks. Sellers need to remain patient with their listings and price them well from the beginning of listing their homes. Of note is the 13.2 weeks of inventory currently listed in and around Denver, and the jump from 16 to 26 days on the market.

As with most things, real estate continues to be local. Various neighborhoods continue to reflect different levels of competition and pricing increases or decreases. As we get closer to end of the year, home sales tend to slow down for the holidays and then RAMP UP starting in January through the spring here in Colorado.

We at The Tucker Team are here for you and are always available to help you plan for your real estate future. Feel free to give us a call or send us an email, as we are more than happy to discuss what your options might be and give advice as to timing for the sale or purchase of most likely one of your biggest investments in your lifetime! Have a Happy Thanksgiving!