There was a 28.9% drop in all new inventory between October and November as the Denver real estate market slowed for the Thanksgiving holiday and winter in general. Both pending and closed sales were also down month-over-month, while days on the market ticked up.
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If you wanted to buy and close on a home in Boulder hopefully by Thanksgiving and definitely by Christmas, October was the month to make it happen. While new, detached single-family listings decreased from 143 to just 66 last month, Boulder sales increased slightly month-over-month and by 19.7% compared to the same time period in 2022.
While many people look forward to the holiday season and spending time with family and friends, others are likely experiencing a bit of dread. Along with cherished traditions like feasting on an elaborate meal and indulging in too much pie, the holidays can be a time of high expectations (especially if you’re hosting), uncomfortable family reunions, and seemingly inevitable conversations that escalate into arguments.
Along with typical seasonal slowing, the Denver real estate market might appear a bit sluggish due to fewer sales. However, homes historically appreciate by 3-5% year-over-year, and detached, single-family homes in Denver came in at a median price of $649,000 for October, or 3.84% higher than in 2022.
It's the season for giving! Of course, with so many charitable organizations to choose from, it can be overwhelming to decide which ones to support. While international charities and well-known causes certainly deserve attention, local organizations play a vital role in making our communities better places.
Between higher interest rates and typical seasonal slowing, single-family home sales in the city of Boulder decreased by 10.5% compared to the prior year despite remaining steady month-over-month. Activity in the condo/townhome segment also dropped from 65 sales in August to just 45 in September. That's also 25% below sales figures for 2022.
