Housing markets across the state slowed sharply in August, but some held up better than others in the face of rising interest rates and reduced buyer demand, according to an analysis of numbers provided by the Colorado Association of Realtors.
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Higher mortgage rates continue to make it less enticing for potential buyers to look for a new home.
Denver-area home prices continue to drop month-to-month, though they are still higher than they were this time last year.
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The median sales price for a single-family home sold in Westchester County during May was $825,000. That's an increase of 13% compared with May 2021, according to a USA TODAY Network localized analysis generated with data from Realtor.com.
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The number of homes and condos up for sale in the Denver metro rose by nearly two-thirds from May to June and the number of properties available on the market grew by nearly twice from a year ago, according to the latest market trends report from the Denver Metro Association of Realtors.
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In Weston, Conn.: a three-bedroom, four-and-a-half-bath, 5,864-square-foot home with three fireplaces, a living room and dining room that have two-story windows and attractive wood ceilings, a new kitchen, a family room with a wall of windows, a primary suite that has a large bath with heated floors, a finished lower level that has a second family room, office and gym, a detached two-car garage, a heated in-ground pool with a stone patio, and a tennis court, on 5.36 acres.
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Nationally, supply has increased, too, leading to more options for potential buyers. Active home listings have increased on a year-over-year basis for the fifth week in a row, according to Realtor.com data released today. And for the first time in seven weeks, median listing price growth slowed—though it remained well above the historic norm.
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For what feels like the first time in a long time, the housing market is shifting, and this time in the direction of the buyer.
A report by the Denver Metro Association of Realtors (DMAR) shows the median closing price for a home fell at the end of May compared to April.
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Homes sold for cash across the country reached a new peak of 28% this March, the highest point since the crisis years post-2008, when a lot of home sales were foreclosures, according to the National Association of Realtors.
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Denver’s red hot housing market continues to generate record sale prices.
A new report from OJO Labs lists Denver as the second most competitive housing market out of the nation’s 50 largest metro areas. Denver saw seven in 10 homes sell for above list price in April, second only to the San Francisco Bay area.
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Denver’s housing market was the second most competitive out of the nation’s 50 largest metro areas, with seven in 10 homes selling for above the list price in April, according to a new report from OJO Labs.
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Denver's housing market surged throughout the COVID-19 pandemic, and lately, it's been growing even tighter.
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Between higher property prices and higher interest rates, housing affordability continues to deteriorate in Colorado this year, leaving Gen Xers as the one age group still able to afford a mid-priced home in Arapahoe and El Paso counties — but not Denver.
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Northern Colorado’s residential real estate market continues to suffer from record-low inventories, helping to drive up prices at dramatic rates.
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The Denver metro's real estate market is one of the most compelling in the nation, and this year will prove telling about its future direction.
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