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July 2022's Local Denver Real Estate Update

As predicted, Denver real estate in July continued the trend of "leveling off" to more typical levels with increased active listings, reduced demand and more days on market. July also saw the percent sold to list price decrease for detached homes by 2.2% month-over-month to 101%. Could we be returning to the market we had pre-2020?

The Denver real estate market is now rife with opportunities for buyers who were left frustrated by the past few years of extreme competition and sky high prices. In July, we saw an increase of 11.62% in active MLS listings, to 6,885 total homes on the market, from June's 5,678 active listings. The increased inventory is a welcome sign for buyers who are ready to get back out there. 

For Denver home sellers, that means if you've been thinking of putting your home on the market, you should consider selling sooner rather than later when prices may start to dip further. Remember, the numbers currently are showing homes sitting on the market an average of 13.5 days - up 35% from June, and more price reductions than we've seen in the past 24 months. This means who you choose to represent you is MORE IMPORTANT THAN EVER. Marketing and how you present your home can mean the difference of your home sitting on the market for 30+ days or going under contract in one week. The Phipps Team's proven marketing and strategies can get your home sold FAST and for more money. Connect with our team today, and let's discuss how we can get you the highest ROI on your home sale. 

Get in touch with us today to talk about your real estate goals! Whether you're looking to sell and want to know what your home is worth in today's readjusted market, or if you want to begin your home search and start touring properties, The Phipps Team is here for all of your Denver real estate needs. 


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