denver metro's real estate market is "full steam ahead' this fall
By Amanda Molitor | October 16, 2020
Another month of 2020 has come and gone, yet the real estate market in Denver Metro has not slowed down. This year, the concept of a “selling season” does not exist. No matter the time of year, rain or shine, consumers are heading out to find their dream homes in Denver Metro.
This persistence is largely driven by low-interest rates and homebuyers’ need to find a home that suits their post-COVID-19 lifestyle. These factors, combined with the fact that Denver Metro is an ideal area to work and play while social distancing, have triggered a surge of demand for homes in the Mile High City and surrounding communities.
Each month, LIV Sotheby’s International Realty (LIV SIR) compiles a market report that examines data in a year-to-date comparison to the previous year, in order to identify and communicate important real estate trends. Through the month of September, total sales volume in Denver Metro was up by 7%. This notable increase was likely driven by the rise in listings sold and average sold price.
The number of listings sold in Denver Metro through September of this year, compared to the same time frame in 2019, increased by 2%, from 42,331 homes sold last year to 43,179 homes sold in 2020. Additionally, the average sold price of homes in the area grew by 5%. So far this year, the average sold price for houses in Denver Metro is $500,704.