03/05/2024
Check out the latest market data from First American Title. As we step into the prime selling season post-President's Day, the Greater Metro Denver area is witnessing expected trends, with a significant uptick in market activity across most price points. The weekend directly following President's Day has traditionally marked the beginning of increased showings and a higher likelihood of sales, and this year has been no exception.
Key Highlights from the Past Week:
- Our listings have seen a slight increase in average daily active counts, with a notable rise in new listings. This indicates a robust entry of properties into the market, outpacing the rate of pending transactions.
- The Odds of Selling have improved, reflecting a positive trend compared to historical data for February. This suggests a slightly better environment for sellers in the current market.
- However, our market remains far from balanced, with current listings representing just a fraction of what would be needed to achieve a 6-month supply of inventory.
- Showings have increased, averaging more shows per property, yet it still takes a substantial number of showings for listings to go under contract.
- The rate of price reductions has decreased significantly, and the average reduction size has lessened, indicating a firming up of prices. Feel free to reach out to our team with your market-related questions! ———————————————————————————
Amy Corbin - Broker Associate
RE/MAX Professionals
720.226.2455
[email protected]
"Home for Today, Hope for Tomorrow"
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