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Active inventory jumped 10% in September, and with more homes on the market, buyers have more options available to them. Average days on the market also increased to 13 days, signifying that buyers also have a little more time to make their decisions. While promising, Denver’s housing market is still incredibly competitive and buyer’s should remain vigilant and aggressive. Although the number of closed homes was down 12% last month, a significant number of homes went under contract as well. As seasons change, the market will continue to cool slightly and allow more buyers to enter the market – but it’s not time to relax just yet.
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Market Insights by DMAR:
• According to Lawrence Yun, chief economist of the National Association of Realtors®, the real estate market is “moving away from that extreme frenzy.”
• Realtor.com’s chief economist Danielle Hale says, “Anytime the market starts to cool, you’ve got people on the sidelines waiting for their chance to get in. That keeps both home sales and home prices from declining too much.”
• July marked the fourth consecutive month in which the growth rate of home prices set a record, according to the latest S&P CoreLogic Case-Shiller National Home Price Index Report. The index showed a 19.7 percent annual gain for the year ending in July 2021, up from 18.7 percent a month prior. This represents the highest annual rate of price growth since the index began in 1987 and the fourteenth consecutive month of accelerating prices.
• Average active listings for September is 15,988 (1985-2020).
• Seasonally, we should see a .80 percent decrease in active listings from August to September. This year’s increase of 10.86 percent represents the highest month-over-month increase on record.
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Pumpkin Festival at Chatfield Farms!
From Friday, October 8th to Sunday, October 10th, enjoy the Pumpkin Festival at Chatfield Farms! This three-day festival includes access to a 10-acre pumpkin patch, food, music, hayrides, photo booths, and other fun entertainment. Bring the whole family! Tickets are $12 for adults, $10 for seniors, students, military, and children 3-15. Corn maze tickets are also available for an additional $7. Tickets are required and are available HERE.
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Tour Denver’s Beautiful and Historic Architecture
Doors Open Denver is an event run by the Denver Architecture Foundation featuring in-person and virtual tours of “beautiful, historical, and architecturally significant buildings that most of us never have the chance to explore.” Running from September 27th to October 17th, peruse through their virtual tour archive, or bring friends and family to one of the in-person tours running each weekend. More information available HERE.
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Featured Local Business | Denver
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I know the last year has been tough on a lot of us, so I also wanted to take this opportunity to feature a local business each month from my community that I can recommend highly!
Featured this month is Solid Ground Flooring, LLC, locally owned and operated by Laban Matthews. Solid Ground Flooring specialize in all things flooring, from bathrooms to kitchens to everything in-between. You can reach out directly to Laban for a quote at 303-550-1996 or solidgroundflooring@live.com.
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If you’d like your business to be featured in a future Newsletter, give me a call or email!
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Real estate questions? Wondering how the market looks at the moment? Just want to say hello? Don’t hesitate to call me – I’d love to chat! Don’t forget to follow me on social media – click on the links below!
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