June 2018 Housing Market Statistics
The latest housing market data from REcolorado indicate things may be shifting in the Greater Denver Metro Area. Both home sales and new listings were down compared to this time last year. Average sales price and homes going under contract both increased in June.
Throughout June, 5,824 homes sold, 5% lower than last year and 1% lower than last month. Year to date, sales are just 2% lower than 2017 figures.
June saw an uptick in the number of homes going under contract. Throughout the month, contracts were placed on 6,028 homes, a 2% increase from last month.
Home Sales Year-Over-Year Change
June 2017 -- 6,138
Over the last two months, we’ve seen home prices remain relatively steady. In June, the average price of a single family home increased 1% from last month to $490,621. As compared to June 2017, home prices are up 8.5%.
The average price of a single-family detached home was $538,642, up 7% year over year. Prices of condos/townhomes are up 9% from last year at $360,958.
Sold Prices Year-Over-Year Change
June 2017 -- $452,221
New and Active Listings
In June, 7,460 new listings of homes for sale were added to the greater Denver area market, 4% less than last month and 3% less than last year at this time.
New Listings Year-Over-Year Change
June 2017 -- 7,700
Average Days on Market
In June, homes spent an average of 31 days on the market, 3 days more than last month and 3 days more than this time last year. On average, single family detached homes were on the market for 24 days, while condos/townhomes were on the market for 51 days.
Days on Market Year-Over-Year Change
June 2017 -- 28 days
The Greater Denver Metro Market by Price Range
In June, the $300,000 to $500,000 price ranges continued to see the most activity with 50% of all sales and 49% of all new listings. Demand remained strong in June, with 78% of new listings that came on the market resulting in a sale. Homes are selling quickly across all price ranges, with half of all homes priced below $500,000 selling in less than a week.