October’s median price for a single family home was $519,900
Low interest rates are bringing buyers to the market, but they’re finding little on offer.
Central Park, formerly Stapleton, on Aug. 29, 2019. (Kevin J. Beaty/Denverite)
The Denver area housing market keeps getting tougher for buyers.
October’s median price for a single-family home — $519,900 — was up 1.94 percent over September and up 14.26 percent over October of 2019, according to the Denver Metro Association of Realtors’ latest monthly report.
Low interest rates were fueling demand, and low inventory meant bidding wars for homes. Denver-area mortgage expert Nicole Rueth said in comments accompanying the report that some sellers were reluctant to put homes on the market because they would “then have to turn and buy, and you’re trying to figure out how to do that.”
Just 4,821 listings for all homes for sale, both single family and condos, were active at the end of October, down 43.66 percent from October of 2019.
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