July 2019 Housing Market Statistics
July 2019 saw 4% more home sales and year-to-date sales slightly up compared to this time last year. Average sold price, new listings, and homes placed under contract all show year-over-year increases.
Denver Metro home sales saw a slight decrease in July. Throughout the month,5,752 homes sold, down just slightly from last month, but 4% higher than this time last year. Year to date, sales are up slightly, as compared to this time last year.
In July, contracts were put in place on 5,931 homes, up 9% from last year and 2.5% lower than last month.
Home Sales Year-Over-Year Change
July 2018 -- 5,554
Home prices saw a slight decrease for the second consecutive month. In July, the average sold price for a home was $496,120, down 1% month over month and 4% higher than this time last year.
In July, single-family detached homes sold for an average price of $548,524, up 4% year over year. The price of condos/townhomes was also up 4% from July 2018, at an average of $361,882.
Average Sold Prices Year-Over-Year Change
July 2018 -- $478,546
New and Active Listings
Throughout the month, the market saw 6,642 new listings of homes for sale, down 12% compared to last month, but 3% more than last year. Year to date, new listings are up 6% compared to last year at this time.
The count of active listings of homes for sale at the end of July was 9,416, 17% higher than last year and 2% higher than the end of last month.
We currently have 7 weeks of inventory, unchanged from both last month and last year at this time.
New Listings Year-Over-Year Change
July 2018 -- 6,457
Average Days on Market
In July, homes spent an average of 32 days on the market, 3 days longer than this time last year, and 1 day less than last month. On average, single-family detached homes were on the market 27 days, while condos/townhomes were on the market 46 days.
The median amount of time a home spent on the market in July was 12 days, 4 days more than this time last year.
Days on Market Year-Over-Year Change
July 2018 -- 29
The Greater Denver Metro Market by Price Range
In July, the $300-500,000 price ranges continued to see the most activity. These ranges contained 49% of the new listings that came on the market and 37% of all active listings at month end. In July, 50% of all homes sold were priced between $300 and 500,000. Homes in these ranges are in high demand, spending an average of only 25 days on the market and a median of just 10 days on the market.