Understanding Denver’s Shifting Market

Today, we’re here to share the data we just got for June, as there are some interesting trends you need to hear about. Things are changing in the Metro Denver market, so it’s important to stay informed.

First, the median sales price went up 1% and is now $600,000. That percentage may not seem like a lot, but if prices increase like that every month, they will be up 12% in one year. That is strong, and it is interesting to see values coming back up.

Unfortunately, the market is still very tight with only one and a half months of inventory. Therefore, inventory is low, but new listings went up by almost 9% in one month, which shows that the seasonality is finally kicking in and growing our market. In addition, the number of pending sales increased by 6% in one month, which also shows seasonality in that more buyers are searching for homes.

If you have any questions about this, don’t hesitate to reach out. You can call or email us anytime, and know that we’re here for you.