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While home sales in the Denver area were down 11% compared to October 2017, year-to-date sales are only 3% lower than this time last year. The housing market saw an increase in new listings during October, up 13% compared to last year. 

View the October 2018 REcolorado Market Watch Video.

Download the October 2018 REcolorado Market Watch Infographic. 

Download the October 2018 Detailed Market Watch Report.

August 2018 Denver Metro Home Sales 

Home Sales

In October, 4,416 homes sold, 11% less than last year, but 1% more than last month. Year to date, sales are only 3% lower than this time last year.

The number of homes that moved to Under Contract in October was 10% lower than last year. Throughout the month, contracts were placed on 4,625 homes, a 5% increase from last month.

Home Sales Year-Over-Year Change

October 2017 -- 4,971
October 2018 -- 4,416

August 2018 Denver Metro Average Sold Price

Sold Prices

After experiencing decreases for three consecutive months, the average price of a single-family home increased in October to $470,385, 3% higher than last month and 7% higher than last year.

The average price of a single-family detached home was $523,579 up 8% year over year. Prices of condos/townhomes were up 3% from last year, to $341,765.

Sold Prices Year-Over-Year Change

October 2017 -- $440,014
October2018 -- $470,385

August 2018 Denver Metro New Listings

New and Active Listings

In October, 5,360 new listings of homes for sale were added to the greater Denver area market, 10% less than last month and 13% more than last year at this time.

The count of active listings of homes for sale continued to increase. At the end of October, there were 8,498 active listings, 2% less than last month and 61% higher than this time last year.

We have 8 weeks of inventory, 1 week less than last month, but 3 weeks more than last year at this time.

New Listings Year-Over-Year Change

October 2017 -- 4,740
October 2018 -- 5,360

August 2018 Average Days on Market Denver

Average Days on Market

In October, homes spent an average of 47 days on the market, 7 days more than both last month and this time last year. On average, single-family detached homes were on the market for 38 days, while condos/ townhomes were on the market for 66 days.

The median amount of time a home spent on the market in October was 17 days, 5 days more than this time last year. More than half of all homes on the market continue to sell in just over 2 weeks.

Days on Market Year-Over-Year Change

October 2017 -- 40 days
October 2018 -- 47 days
+7 days

August 2018 Home Sales by Price Range

The Greater Denver Metro Market by Price Range

Homes priced in the $300-500,000 range typically comprise more than half of all Denver Metro sales. In October, 52% of homes sold were priced in this range and they sold in an average of 41 days. Additionally, 49% of all new listings that came on the market were priced $300-500,000. Compared to last year, home sales in the $300-500,000 price range were down 7%, which is less than the 11% decrease seen from overall year-over-year home sales. Homes priced below $400,000 sold the quickest in October, staying on the market an average of 31 days or less.

August 2018 Days on Market by Price Range

About REcolorado

Since 1984, REcolorado has been focused on providing the most accurate and up-to-date real estate information for professionals and consumers. Updated continually with new and sold listings and powered by the state’s largest network of real estate professionals, REcolorado.com is Colorado’s most accurate home search website. REcolorado.com also offers consumers mortgage resources, information about Colorado neighborhoods and cities, sold listings, open houses, and a comprehensive database of real estate professionals.

REcolorado is the largest Multiple Listing Service (MLS) in Colorado with approximately 25,000 professional members who operate throughout the state. It is REALTOR® owned and serves Aurora Association of REALTORS®,  Denver Metro Association of REALTORS®Mountain Metro Association of REALTORS®REALTORS® of Central Colorado, and South Metro Denver REALTOR® AssociationContact a REALTOR for accurate information about your property and neighborhood.