Market Update: Opportunity continues for Stapleton real estate homebuyers

Lower prices setting up homebuyers in Stapleton real estate market!

Hey all, Jody, and the Team of local Realtors(R), here to bring you your Stapleton real estate market update! Thanks to Denver Metro Association of Realtors (DMAR), we have the latest Denver Real Estate Market update.

The downward pressure continues as home prices for August have decreased. Detached single family declined to $483,574 from $494,509, and attached residences reported $318,069 from $320,596. This has been the theme for the past two market updates. Despite the dip in prices homes are up over 8% year-over-year.

Inventory decreased by 1.21% month-over-month with a total of 5,634 detached single family homes on the market. Conversely, attached single family homes increased by 4.67% to 1,726 units.

As mentioned in our last Denver Real Estate market update, inventory was starting to rise, and we experienced the first monthly price decline of the year. So far this year, 38,553 homes have sold, which is a record year high, and 4.35% higher than 2016! The decline in prices is attributed to a combination of higher inventory, but also a seasonal shift at the tail end of summer–it is completely normal, and healthy for markets!

Give us a call today if you’d like to discuss the market further. We’d be happy to give you our expert advice!