In metro Denver it’s fairly common to see a slight slowdown in showing activity toward the end of the summer. It seems this year, however, the decrease has arrived early now that consumers can finally get out and about. With more people prioritizing enjoying the summer season over actively shopping for homes, those who are touring listings and making offers are likely to benefit from the decline in competition.

While the slight slowing of the market is good news for buyers, sellers continue to have the advantage of an incredibly hot real estate market. According to data from LIV Sotheby’s International Realty’s Q2 Micro Market Report, home prices in Denver Metro continue to appreciate. In a comparison of January through June of 2021 to the same time frame last year, single family home prices rose by 24.8% to reach an average price of $650,278. Attached residence prices rose by 16.1%, which brought the average price to $437,130.

Home values have appreciated in many individual neighborhoods across the Denver Metro area as well, such as the popular neighborhood of Bonnie Brae / Belcaro, where average home prices rose by 60.5%, reaching $1,722,391. In the City of Denver, average prices for all property types appreciated by 21.5%, bringing the average price to $634,217. Home prices in Capitol Hill, while still rising, do so more slowly – appreciating by 3% to bring the average price to $384,521.

Looking at the number of homes sold in specific neighborhoods, consumers are beginning to return to more their typical, pre-pandemic buying behaviors. For example, there’s been a resurgence in interest in communities close to the city, such as Uptown, RiNo, Golden Triangle, and Cheeseman Park, all of which experienced increases in the number of properties sold by over 100%. The downtown condominium market has also gained momentum, with a 93.8% rise in condominium sales through June of this year. Outside of the city, the Country Club neighborhood saw one of the most significant improvements in home sales, growing from four homes sold through Q2 of 2020 to 11 homes sold so far this year – a 400% increase.

If you’re ready to check out homes in any of these exciting areas, now may be a great time. Give Metrowest a shout today – we’d love show you around!