June 2019 Housing Market Statistics
The Denver Metro Area housing market saw a plentiful supply of homes during June, showing signs of being healthy and sustainable.
After four consecutive months of gains, home sales took a breather in June. With 5,635 homes sold, sales were down 8% both year over year and month over month. Year to date, sales are 1% lower than this time last year.
In June, contracts were put in place on 6,417 homes, up 12% from last year and 5% higher than last month.
Home Sales Year-Over-Year Change
June 2018 -- 6,110
After reaching an all-time high in May, the average sold price of a home cooled in June, decreasing slightly to $501,550. Home prices are up 2% year over year.
In June, single-family detached homes sold for an average price of $549,656, up 2% year over year. The price of condos/townhomes was up 2% from June 2018, at an average of $369,778.
Average Sold Prices Year-Over-Year Change
June 2018 -- $492,094
New and Active Listings
Throughout the month, the market saw 7,565 new listings of homes for sale, down 14% compared to last month, but 1% more than last year. Year to date, new listings are up 8% compared to last year at this time.
The count of active listings of homes for sale at the end of June was 9,228, 28% higher than last year and 8% higher than the end of last month.
We currently have 7 weeks of inventory, 1 week more than last month, and 2 weeks more than last year at this time.
New Listings Year-Over-Year Change
June 2018 -- 7,460
Average Days on Market
In June, homes spent an average of 32 days on the market, 5 days less than last month, but 1 day more than this time last year. On average, single-family detached homes were on the market 27 days, while condos/townhomes were on the market 47 days.
The median amount of time a home spent on the market in June was 9 days, 2 days more than this time last year.
Days on Market Year-Over-Year Change
June 2018 -- 31
The Greater Denver Metro Market by Price Range
In June, the $300-500,000 price ranges continued to see the most activity. These ranges contained 47% of the new listings that came on the market and 36% of all active listings at month end. In June, 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.