Real Estate Market Update September 2019
To me, September always signals the beginning of change. Kids go back to school, football is back in action and the weather starts to cool off for Fall. However, the numbers in the real estate market stayed rather consistent. Last month we outlined the rise in inventory from roughly 6,000 active units during the summer to ending July with 9359. August ended with 9350 active units, a negligible decrease.
Days-on-market is up 15% from a month ago, 30 days from 26 days, and 30% from a year ago, 30 days from 23, respectively. As we transition into a seasonal market we will normally see a slight drop in inventory and buyer activity.
What does this mean for you? September and October are still generally good times to be in the market. For sellers, people are still looking to move before the holidays and, if you plan to sell this year, better now that during Thanksgiving and Christmas! For buyers, there is less competition from the people who are waiting until the spring. You will generally have more negotiating leverage during November and December, but you will also have less inventory to choose from.
Deals on the Market
Here are some listings I picked out from what is on the market in Denver that I believe provide good value. Whether they are in great locations, offer upside for a remodel, are ripe for negotiation or would make good investments to lease, let me know if you see anything you like!