Oh, how the seasons come and go - it seems like just yesterday we were driving up to the mountains to go leaf-peeping. But with some early snow, skiers and snowboarders across the state are making their inaugural journey to the mountains to kick off the season. When it comes to real estate, last month saw somewhat of a slowdown across the Front Range, and based on seasonal trends, we can expect prices to continue to dip as we head into winter.
As we quickly approach the new year, historically the next couple of months see a slowdown in real estate activity. This means fewer properties hitting the market, less showings, and homes generally taking longer to sell. All of this is reflected in prices, at least until January rolls around.
Already, we’re seeing these trends take shape across multiple markets. In September, we saw the median sales price for a single family home in Denver County dip to $607,500, coming off a high of $660,000 in June. Up north in Weld County, the median days on market for single family homes was 28 in July, but increased to 40 in September. In Colorado Springs, things seem a little more stable, but median sale prices for single family homes in El Paso County have decreased slightly from $450,000 in June to $441,000 in September. The percentage of closed to list price there has also fallen from 105.1% in June to 102.3% in September.