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REcolorado Market Watch: Denver Metro Area
Monthly Housing Market Statistics: June 2020
In the Denver Metro Area this June, 5,992 homes closed, a year-over-year increase of 3%. As compared to last month, sales saw a 69% increase.
In June, the count of listings in Pending status was 7,723, which is 17% more than last month and up 28%, from June 2019.
Homes Closed Year-Over-Year Change
June 2019 -- 5,819
In June, the average price of a home in the Denver metro area was $508,951, a year-over-year increase of 2%. Compared to last month, there was an increase of 3%.
Single-family residences sold for an average price of $559,290, an increase of 2% year over year. The price of multi-family/ condos/townhomes was up 1% from June 2019, at an average of $370,180.
Average Closed Prices Year-Over-Year Change
June 2019 -- $499,439
Throughout the month, sellers brought 7,415 new listings to the market, down 2% compared to last year, but up 1% from last month. This is the highest single-month count of New Listings we’ve seen so far this year.
The count of active listings of homes for sale at the end of June was 6,382, 31% lower than last year and 8% lower than the end of last month.
We currently have 5 weeks of inventory, four weeks less than last month and two weeks less than last year.
New Listings Year-Over-Year Change
June 2019 -- 7,573
Days in MLS
In June, homes spent an average of 24 days on the market, the same number of days as this time last year, and the same as last month. On average, single-family residences were on the market 23 days, while multi-family/condos/townhomes were on the market 29 days.
The median number of days a home spent on the market in June was 9, unchanged from this time last year.
Days on Market Year-Over-Year Change
June 2019 -- 24
Year to Date
Although gains were made from a strong June, REcolorado’s year-to-date data shows the market continuing to lag, a result of the coronavirus. The count for closed listings is 10% lower than last year’s year-to-date figures. The Average Closed Price of those listings was up 2% thanks to continued strong demand and low inventory levels. The number of new listings that came on the market was down 9% year to date. On average, homes spent the same amount of time on the market as they did at this point in 2019.