October 2019 Housing Market Statistics
After seeing a seasonal decrease from August to September, month-over-month sales remained steady in October across the Denver Metro Area housing market. Homes spent three days fewer on the market than last month, with contracts placed on 5,170 homes. Strong demand has continued into the autumn months, and year-to-date sales are 3% higher than the same period last year.
In the Denver Metro Area this October, 4,978 homes sold, a year-over-year increase of 9%. After seeing a seasonal decrease from August to September, month-over-month sales were relatively unchanged.
In October, contracts were put in place on 5,170 homes, up 18% from last year and up 1% from last month.
Home Sales Year-Over-Year Change
October 2018 -- 4,580
In October, the average price of a single-family home was $484,832, a year-over-year increase of 3% and up 1% from last month.
Single-family detached homes sold for an average price of $530,967, up 2% year over year. The price of condos/townhomes was up 7% from October 2018, at an average of $365,266.
Average Sold Prices Year-Over-Year Change
October 2018 -- $469,780
New and Active Listings
Throughout the month, sellers brought 5,424 new listings to the market, up 1% compared to last year, but a seasonal 10% decrease from last month.
The count of active listings of homes for sale at the end of October was 8,261, 3% lower than last year and less than 13% lower than the end of last month.
We currently have 7 weeks of inventory, one week less than last October and 2 weeks less than last month.
New Listings Year-Over-Year Change
October 2018 -- 5,354
Average Days on Market
In October, homes spent an average of 39 days on the market, one week less than this time last year and three days less than last month. On average, single-family detached homes were on the market 38 days, while condos/townhomes were on the market 44 days.
The median amount of time a home spent on the market in October was 19 days, two days more than this time last year.
Days on Market Year-Over-Year Change
October 2018 -- 46
Year To Date
At the end of October, major market indicators continue to point up compared to this time last year. Sales are up 3% year to date, thanks to strong demand which has continued into the autumn months. Year to date, average sold price has increased 3%. Inventory levels are inching up thanks to a steady flow of new listings coming to the market. Year to date, new listings are 5% higher than this time last year.