Madison & Company Properties | Q3 2015 Denver Market Report
Learn the latest real estate news from Leverage Partner Madison & Company Properties, who recently released their Q3 2015 market report, with statistics and analysis covering the Denver real estate market.
As we wrap up a fast-paced 3rd quarter, and the best September for the residential market over the past five years, market conditions are starting to shift in favor of homebuyers as we enter the 4th quarter. Typically in Denver, the Daylight Savings time change (Nov. 1st this year) shifts buyers' efforts to find homes from weekdays and evenings to more time on weekends and day time hours. This will decrease demand in many areas and will increase the inventory of homes on the market, which are the leading reasons why October is generally considered the best time of year to purchase a home.
Entering October, we have already seen an increase in price reductions and some sellers are now facing the reality that they may have missed the peak selling season. Overall, showing activity, a valuable metric to track the market, is starting to slow as well, making this an opportunistic time for homebuyers to find a new home.