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Metro Denver homes are staying in market longer as buyers shrink

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Metro Denver home sellers in the spring can reasonably expect to get listings under contract within a week, especially for low-priced properties. You must prepare yourself mentally.

In September, listings spent an average of 26 days in the market, more than three times as long as in April, when listings were billed for an average of 8 days. Monthly updates from the Denver Metro Association of Realtors.

The stat is one of many that highlight the shifting balance of power between buyers and sellers in a market that has slowed significantly as 30-year mortgage rates approach 7%.

Libby Levinson-Katz, incoming chairman of the DMAR Market Trends Committee, said in comments accompanying the report: “The market has entered a period of neutrality where extreme market bullish methods give way to a compromise phase, with buyers and sellers working together for a win-win experience.”

In Metro Denver, 7,683 homes and condos were put up for sale at the end of September. 10.7% increase from August 93.5% more than was available in September 2021While this may seem like a giant leap, the number of properties available to buyers remains less than half of the September average of 15,663 listings dating back to 1985.

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