The average days on the market across the entire Denver MLS has been relatively low again the entire year. Just as it has been for the prior 3 years. The average is calculated from the time it was listed in the MLS until the time it went under contract. This is all residential properties and all prices. June is usually the shortest amount of days on market and 2019 was no different. With about 26 days on market on average that is a sign of a very healthy and active seller’s market. Days on market is one of the primary indicators of buyer/seller market indicator. Anything under 30 days is a stellar metric. Actually real estate agents and sellers are happy with anything under 60 days on average.
The peaks and valleys of this metric is normal. The Denver MLS really doesn’t have a “selling season” per se anymore but the market always sees this slight and negligible variance every year. These grievances are not enough to be concerned in any way or an indication of a drastic market shift. The real estate agents are seeing a slight shift in the buyer’s direction but nothing to be concerned about and will be discussed in a moment.
December/January are always the months with longest days on market. Buyers are always busy with other things like holidays, vacations and school. It is not at all uncommon to see linger days on market. Although 45 days on market is not really considered long. The one thing about buyers in winter months is they are definitely more serious about buying if they are looking at homes they will most likely be pulling the trigger.