We have seen some ups and some very serious downs in the Real Estate Market, including the Great Recession and a Recession caused by the Pandemic of 2020! It’s almost unbelievable to think what has happened this time around during this Pandemic, and how resilient the market has been since the early moments of quarantines ending.

The Real Estate Market has been the bright and shining light in the Denver Market and across America to help buoy up our Economy, and bring some safety and security to individuals and families that are looking to find their first home, their move up or move down home, their Relocation home, their vacation home, and their forever home. The Market continues to march on with a purpose, as the same fundamentals are still very active in High Demand and Low Inventory! The Active Listings actually went down at the end of August with 3,582 vs 4,056 last month and still down 35% from this time last year. New Listings were down in August, while Pendings were up and increased 9.5% over last month. Closings were also down 9.5% from July, which is a result of softer sales in July.

Year to date at the end of August, Closings are up 5.7%, and remarkably our Single Family Detached home Average Closed Price stands at $686,908 and that is up 21% Year over Year! Wow! Attached Single Family homes Average Closed Price stands at $428,900 which is 14.5% higher Year over Year!

Now for the Big Questions that we are looking for the answers: Is the late Summer lull ending? Is the Fall Market going to pick up? The second and third weeks of September should give us the answer as we see the Fall Buyers re-engage, and Fall Sellers decide to List their homes. Here is a quick tip to watch closely: The last 7 days of New Listings is actually higher than the New Pendings over the last 7 days! This is the first time we’ve seen this since May 2020! If you are a Seller who needs to sell, you should List your home in this Market! If you are a frustrated Buyer that has struggled to find the right home this year, you should be looking at homes today! The next 4 months can change your life!