Metro Denver home price gains reversed course last month after a sharp rise in October.
A home for sale on S. Cherry St. near Cornell Ave. in Denver on Wednesday, Jan. 17, 2024. The region is on track to end the year with some of the weakest appreciation in the country.
“Buyers in this current end-of-year market are finding gifts on a level rarely offered. Of the homes sold in November, about 50% had at least one price reduction before going under contract, and roughly 60% of the sellers provided concessions to buyers, many in the form of interest rate buydowns or repair credits,” Amanda Snitker, the new chair of the DMAR Market Trends Committee and an area Realtor, said in comments accompanying the report.
The number of active listings was 9,310, down 14.9% from October and up 39.3% from year-ago levels due largely to a 41.5% decline in new listings. Sellers, who had put 4,693 homes on the market in October, listed only 2,747 homes in November.
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