The Denver area housing market in August softened as the summer selling season began to end, according to Metrolist.
Prices dipped, the number of sold listings decreased and homes stayed on the market longer, Metrolist CEO Kirby Slunaker said.
August saw a 7 percent downturn in the pace of home sales between July and August, and a 7 percent dip between August 2013 and August 2014.
Also, homes stayed on the market in August for 28 days, two fewer days than in July.
As far as prices, the average sold price for a single family home in August was $329,396, down 2 percent from July but up 6 percent from August 2013. The average sold price in July was $335,427.
The median sold price in August was $277,000 compared with $283,000 in July.
Slunaker said the softening in the Denver metro housing market is the rule rather than the exception as children head back to school.
“The summer selling season was strong, and in many areas remains very active, with buyers quickly making offers on properties that are priced right,” Slunaker said in a statement.
The number of new listings that came on the market was down 13 percent from July to August and down 8 percent from August 2013.
However, the demand for the homes was still high, with a supply of just eight weeks of inventory at the end of August, Slunaker said.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or
