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Colorado Springs Real Estate Market Updates- July 2024
Denver Market Stats and Observations for July 2024
- Active Listings
- 10580 vs 6300, +68%
- The average active listings for July are 15,502 (1985-2023)
- Active listings went up 3.62% from June to July, lower than the historical average of 5.41%
- Active listings are higher than pre-COVID numbers (July 2019)… 10580 vs 9360
- New Listings
- 5150 vs 4790, + 8%
- New listings YTD are up 14% from 2023
- There was a slowdown of nearly 12% from June to July, as many sellers realize that buyers are waiting for the potential rate cut in September to start their search
- Pending
- 3900 vs 3740, + 4%
- Closed
- 3710 vs 3890, -5%
- The election holds anticipation for many, as historically homes sales have increased after 9 of the past 11 elections
- Price
- 709k vs 693k, +2%
- Historically, prices have increased after 7 of the past 8 elections, meaning many are interested to see the impact of this year’s election on the market
- DOM days on market
- 30 vs 25, +30%
- Discounts
- -1% (now) vs. list price on average (July ’23), -1%
- Mortgages
- The 30-year mortgage started the month at 7.14% and ended at 6.70%
- It’s dropped even more since 8/1!
- Mortgage purchase applications are at low levels not seen since 1995 and have dropped weekly
- The 30-year mortgage started the month at 7.14% and ended at 6.70%
Denver Housing Trends for July 2024
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