Denver housing market inventory tops 8,539 active homes in October.

Denver housing market inventory tops 8,539 active homes in October. Year to date, the inventory has increased 35.28% compared to last year. Although, other real estate market factors including sales volume, days on market, and housing prices continue to favor home sellers in the Denver area. Year to date through October, sales volume for the Denver area residential market has exceeded $22.5 Billion, up 5.45% from last year. Furthermore, the average and median home prices in October were $471,321 and $400,000 respectively, up 7.12% and 5.26% compared to 2017. The average sold price last month for a single family home was $526,092, up 8.43% year over year, while average days through October was the same, at 24 days, as in 2015, 2016, and 2017.

Although the Denver housing market inventory reached 8,539 active homes in October, it’s still fewer than the end of September which was 8,807 active homes, but more than any other month since November 2017.

Months of inventory for single family homes increased to 5.76 months, while condos increase to 8.15 months.

For the luxury market, a total of 161 homes sold for $1 million or greater in October, up 26.77% from previous month but down 2.42% year over year.

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