November Residential Denver Metro Market Numbers

[Kenny Smith]

Final/Finished Numbers

Active/Coming Soon Listings - 6,027

Median Home Price - $554,000

List to Close Ratio - 99%

Average Days on Market - 34

These numbers are the story we've been seeing the last few months.  Median home prices have continued to go down, now looking at a 10% decrease since the peak in April.  List to close ratio is now under 100% so homes are selling under asking.  Days on market continue to rise, now looking at an almost 400% increase since April.  Listings are starting to drop, and whole bunch of expired listings, way more than previous months.  That time of year and rates are playing a big part.  However, mortgage rates down .34% today to a national average of 6.29% for a 30 yr fixed...

I smell opportunity!