Just another crazy month wrapping up in the Denver MLS real estate market. So here is the May 1 2023 real estate market update in the Denver MLS area. Low inventory is still making things challenging for buyers. Buyers just can’t catch a break these days. Prices are holding tight (or going up) and interest rates ticked up a bit last week.
The real estate market has seen some fluctuations in the past few months. In June 2022, there were 9,139 sales, which gradually decreased to 4,902 in December 2022, before picking up again to 5,985 in April 2023. Although the number of sales has been variable, the average days in MLS have steadily increased from 16 days in June 2022 to 38 days in April 2023, indicating a gradual slowdown in the market.
The average close price of properties has also been fluctuating. In June 2022, the average close price was $673,258, which decreased to $606,750 in December 2022, before increasing again to $644,460 in April 2023. This indicates that there have been some market corrections and fluctuations, but overall, prices have remained relatively stable.
The number of active listings has also been declining, from 19,749 in June 2022 to 13,482 in May 2023, indicating a tightening of supply. This could be due to various factors, such as a decrease in new construction, an increase in demand, or a decrease in the number of people putting their homes on the market.
Overall, the real estate market has seen some fluctuations in sales, days in MLS, and active listings, but the average close price has remained relatively stable. However, the tightening of supply could lead to an increase in prices in the future. It is important for buyers and sellers to keep an eye on market trends and work with a knowledgeable real estate agent to make informed decisions.
These figures indicate that properties were selling more quickly in the earlier months, with an average of 16 days in June 2022 and 18 days in July 2022, but the average days in MLS gradually increased to 38 days in April 2023. This suggests that the market is stabilizing, and buyers are taking more time to make decisions.
Orson Hill Realty
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Our real estate Agents and Brokers are all Realtors so you have a higher level of ethics and experience. Our staff is also Very Active in the Community – All Orson Hill Realty agents and brokers are local and love their community. We strive to keep our hands on the pulse of the community by being involved in every aspect of the area. We volunteer, have open houses, work at our schools and local sporting events. Don’t forget to visit or get listed on our local business directory! Have a piece of mind when you hire Orson Hill Realty Realtors. Know we will handle everything in your real estate transaction professionally and ethically. The broker/owner of Orson Hill Realty is also a Realtor in Southwest Florida. We would like the opportunity to win your business. Buyers and Listing Agents…
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Real estate agents understand the importance of an online presence and the best technology for our buyers as well as our sellers. For buyers our technology is important because in this fast paced real estate market you need to be notified immediately when a home becomes available on the MLS (Our multiple listing service) You can also do a very detailed home search through our portal that is updated multiple times a day to have the newest and freshest information on homes being listed, sold and going under contract. We also push all of our listings out to a huge amount of online sources, so that you can find your new home with ease!
