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$14.7M ranch tops October sales in Denver metro area as housing market slows down

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In the last few years, mortgage rates have gone from 3% to 8%. That adds nearly one thousand dollars to the monthly payment on a median priced home.

The monthly supply of inventory increased from September, while the number of new buyers purchasing a home decreased.The ranch, previously owned by the Medved family, is located at 1334 S. Grapevine Road and boasts the main 17,000-square-foot residence as well as other structures on the 163-acre property.

In the attached home category, the highest-priced home to sell last month was a $3 million property in Greenwood Village, according to DMAR. The median close price of a home was $585,000 last month, the same median price as September. The average price of a home was $687,917 in October, only 0.1% less than September and 4.16% higher than October of last year.9NEWS+ has multiple live daily shows including 9NEWS Mornings, Next with Kyle Clark and 9NEWS+ Daily, an original streaming program. 9NEWS+ is where you can watch live breaking news, weather updates, and press conferences.

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