Here are the June 2024 Denver Metro Real Estate statistics. June is showing a slight increase in pending sales however a decrease in closed units. June historically has been a reliable peak selling season month but this year it has detoured mainly due to interest rates. There are lots of social media headlines about what is happening right now from "bubble" theories to wishful thinking from sellers we will go back to 2021 but the facts are the market is heading towards being more balanced and normal with inventory sitting at about 2.75 months of supply. Move in ready and properly priced homes are the name of the game for sellers along with patience as buyers are taking their time to make decisions and do not like to be rushed into decision making. While pending sales rose and closed sales declined in June which is contradictory to a rise in inventory and days in MLS it does show the market is moving in a non predictable manner. Remember our markets can be hyper local as to movement according to specific neighborhoods and price points around the Denver Metro Area. As always please reach out if you have any questions regarding the ever changing real estate market whether you are thinking about buying, selling or investing. The time is right when it is right for you.
