Denver has rallied from a -1.8% decline in the median sales price last month to just a -1.1% decline this month.  As I have said before, we are slowing from 7 years of solid appreciation. The market needs a breather and we are getting it.  I believe the median sales price will end up in the positive territory this year, but probably under 5%.  

We saw Denver County and all of the surrounding Metro Denver communities falter back in the 4th and early 1st quarters.  This was due to the market flirting with 5% interest rates.  Interest rates are definitely helping this market right now.  As of this writing, interest rates are around 3.9% which is close to a 12 Month low.  This should only help as this is the first day of summer.

New listings are up 5.2% year over year.  This is the first time that I have ever seen new listings for a month in Denver County crack the 2,000 mark (albeit it was 2,001).  Sold Listings were down 3.6% last month, but have fought back and are now up 0.6% year over year.

As I mentioned above, interest rates are great right now.  This should only fuel the real estate market.  Now is a great time to buy.  Higher inventory numbers gives you a better chance at negotiating a more advantageous price.

Thanks for viewing my blog post.  If you have any questions regarding buying or selling, call me at 303.520.8700.