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REcolorado Market Watch: Denver Metro Area
Monthly Housing Market Statistics: August 2020
A record number of homes sold in the month of August as compared to this month in previous years. Throughout the month, 6,381 homes closed, a year-over-year increase of 12% and a 13% decrease month over month.
Homes Closed Year-Over-Year Change
August 2019 -- 5,719
The average price of a home in the Denver metro area in August was $539,252, a year-over-year increase of 11%. As compared to last month, prices saw a marginal increase.
Average Closed Prices Year-Over-Year Change
August 2019 -- $485,592
Throughout August, 6,876 new homes hit the market, 2% more than this month last year. After 3 months of increases in New Listings, we saw our first decrease as 10% fewer homes for sale hit the market.
New Listings Year-Over-Year Change
August 2019 -- 6,756
Days in MLS
Denver Metro homes spent an average of 23 days on the market in August, 8 days fewer than this time last year and 2 days fewer than last month.
Days on Market Year-Over-Year Change
August 2019 -- 31
Year to Date
Year-to-date measures indicate we’re having a strong buying and selling season despite the pandemic. Compared to last year, the count of New Listings is 5% lower, and the number of Closed Listings is just 1% lower. As the busy season progresses, we’re seeing the year-over-year delta for these measures decrease. The average Closed Price is up 5% from last year due primarily to high buyer demand and low inventory levels. Homes spent an average of 28 days in the MLS, 1 day less than the previous year.