Market Predictions: We are expecting to see another big closing month in August. Due to the continued lack of inventory, we don’t see home prices falling anytime soon. The interest rates are still at an all time low which allows buyers to afford more. The mask wearing, hand washing, and social distancing doesn’t seem to be slowing down the real estate market, and we look forward to seeing if there will be a fall slowdown at all this year.

Market Recap: The last 6 months has been a bumpy ride with the onset of COVID-19. In April and May we saw the market stall as showings were halted, but it quickly came back with record number of pending homes in June. Then in July we had the highest ever recorded number of closing and detached house prices skyrocketed to $601,863 which was almost 10% higher than the same time last year.

Market Overview

Single Family
Active Inventory 4,001
Sold Home 4,086
Ave Sold Price $601,863
Ave Days on Market 24

Condos & Townhomes
Active Inventory 2,448
Sold Home 1,858
Ave Sold Price $383,174
Ave Days on Market 26

August 2020 Denver Metro Area Market Trends

Real Estate Humor

Why did the house go to the doctor?  It had a window pane.

Home Guidance You Can Trust!

Communication is the foundation to building trust, so we make it a priority to be available to our clients through phone, text, Facebook messaging, email and in-person meetings. Our laid back approach to home buying is centered around outstanding personal service and gives you the time you need to find the perfect home.

We will help educate you about your options so that you can make well-informed decisions throughout the home buying and selling process. Our friendly and responsive team will make you glad you chose Gold Compass Real Estate to help reach your real estate goals.

Meet Our Team

Gold-Compass-Real-Estate-Logo

 

Mike Lies Profile Picture

Mike Lies

Gold Compass Real Estate

Employing Broker

Office: 303-325-5690

Text: 720-441-3050

Google Rating
5.0 Gold Compass Real Estate Gold Compass Real Estate

Gold Compass Real Estate, Inc. BBB Business Review

Skip to content