Shifting Seasons

August’s Market Trends and What to Expect This Fall in Denver Real Estate

As summer draws to a close, Denver’s real estate market transitions into its fall rhythm. Historically, September brings challenges for sellers, as end-of-summer trips and back-to-school activities often slow buyer activity. However, this year’s market data reveals a more complex picture, with key indicators highlighting both opportunities and necessary adjustments for buyers and sellers alike. Let’s dive into how August shaped Denver’s real estate market and the trends to watch as we move into the fall season.

August experienced a slight dip in new listings, down 0.76% month-over-month, while active listings increased to 10,724 homes, marking a significant 56.37% increase from last year. For context, the average number of active listings in August over the years is 15,439, with historical highs and lows ranging from 31,664 listings in 2006 to a record low of 3,582 in 2021. This year’s slight decrease in active listings, down 1.32% from July, aligns with the typical seasonal trend where listings usually drop by 1.29% between these two months. Pending sales showed positive momentum, rising by 3.74% from July and 7.7% year-over-year, indicating that more buyers are re-entering the market as mortgage rates decrease. Conversely, closed sales fell by 7.55% month-over-month, but this figure is expected to rebound soon due to the 30-day closing lag.

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September Events Around Town!

And a couple early October events…

September 4th-7th: Denver Food and Wine Festival

“The Denver Food + Wine Festival is a multi-day extravaganza of food, wine, and spirits events presented by the Colorado Restaurant Foundation and Southern Glazer’s Wine & Spirits. This annual event benefits the Colorado Restaurant Foundation, which supports worker education, training, and Colorado ProStart®, the state’s high school culinary and entrepreneurship program; mental health and wellness resources; and the Angel Relief Fund, which provides grants for hospitality employees experiencing hardship. Festival events feature the best of metro Denver’s restaurant community, the finest wine and spirits, educational seminars, and the culminating signature Grand Tasting.” Tickets & More Info!

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