Should I buy new construction or resale in Denver?

The choice between new construction and resale homes depends on your priorities, but there are some things to consider when looking at the overall market. The typical home price in the Denver area is $589,000. Prices have gone down a bit over the past year. The median listing price is 3.4% lower than it was a year ago, and the average listing price is down 3.3%. Homes are staying on the market longer now. On average, a home is listed for 48 days before it sells. This is a bit longer than last year. There are fewer homes for sale right now compared to last year. The number of active listings has dropped by 4.9%, and there are 1.4% fewer new homes coming onto the market. Keep in mind that nearly a third of homes, about 29%, have had a price reduction. This suggests that sellers are willing to negotiate. If you are a buyer, this information means you have a bit more time to make a decision, and there might be room to negotiate on price.

The data provided does not differentiate between new construction and resale homes, so I can't directly answer whether you should buy new construction or resale. However, I can give you a general overview of the housing market in Denver-Aurora-Centennial, CO. The median listing price in the area is $589,000, which hasn't changed from the previous month. Compared to last year, prices are down by 3.4%, meaning homes are generally a bit more affordable than they were 12 months ago. There are 12,572 homes currently for sale, which is a decrease of 4.9% from last year. Fewer homes are coming onto the market, with new listings down 1.4% year-over-year. This suggests a tighter market with less choice for buyers. Homes are taking a bit longer to sell, staying on the market for 48 days on average. This is about a week longer than last year. Also, 29% of homes have had their prices reduced, though this is slightly less than last year. Since this data doesn't separate new builds from existing homes, it's a good idea to consider what's most important to you in a home, like customization options or established neighborhoods, before making a choice.