July Market Update
When will this end? I get this question a lot and I don’t have the answer. Denver’s economy is among the best in the nation and that is supporting a healthy housing market, despite rising prices and interest rates. On the other hand, we’re seeing homes stay on the market a bit longer and we’re seeing more price reductions, which suggests the market is settling down but not necessarily headed to a turning point.
Tupper's Team prepares a Market Segment Report every month to stay on top of activity in every price range. This month’s report shows that our foothills housing market is either balanced or seller-favorable in every price range up to $1.5million. Above that point, properties on the market outnumber sold properties 53 to 12, leaving our high-end homes in an unfortunate buyers’ market midst an otherwise robust market. If you'd like to see a copy of our latest Market Segment Report, just let me know.