You’ve heard from us that downtown Denver is showing signs of a buyer’s market. To be sure, and to understand exactly what is happening, we need to track two things; inventory and price reductions. If a neighborhood has less than 6 months of inventory, analysts call that a seller’s market. Exactly what you are seeing in our suburbs.
If a neighborhood has more than 6 months inventory it shows a market leaning in favor of buyers. But that’s not all you should watch for. Price reductions are a key indicator in what is happening in that market as well.
Here are the price reductions for 80202 and some stats you should know for this past week, and since we’ve been tracking on 8/13/2020:
- How many properties have had price reductions since we started tracking 80202 on 8/13/2020 (this does not count multiple reductions per property, just counting reduction one per property): 81
- Average price reduction: 5.25%
- Range: 0.12% – 30.77%
- How many reductions this week: 14
- How many reductions last week: 12
- How many listings in 80202 on 9/24/2020: 186
- To view the properties that had price reductions in 80202 the week of 9/17-9/24, click below:
This is a snapshot of 80202 but we can track any zip, city, custom area or county. If you are interested in learning about your neighborhood let us know and we’ll run customized reports for you and help you understand our findings.
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