Colorado Real Estate Market 2019
Colorado’s Real Estate Market 2019 is finally starting to show some signs of balance. It is still, for sure, a seller’s market with a small sign of buyer power coming back. Home are hanging around longer while on the market. Interest rates are still incredibly low. Single family homes are staying on the market for 24 days on average which is about 10% higher than last year. New residential listings are down 12 percent compared to last month (June). Homes are starting to become slightly more affordable which was partly caused by the recent cut in interest rates. So far in 2019, 22% of homes in the Denver area have seen a year over year decrease in median selling price. Closing prices have seen a slight decrease from 99.9% to 99.4% of list price. Buyers are shifting their interests to newly built developments rather than existing homes which is interesting! Unfortunately that is hurting some of the older inventory.
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