REcolorado Market Watch: Denver Metro Area Weekly Housing Market Statistics: August 24, 2020
The weekly count of Pending listings increased for the fourth consecutive week, which boosted the count over the 1,700 mark for the first time since mid June. At 1,742 there were 6% more Pending listings than last week and 35% more than this week last year.
In an effort to meet buyer demand, sellers brought 1,569 New Listings to the market last week, a 5% decrease from the previous week, but 28% more than last year at this time. This is the highest count of New Listings we’ve seen hit the market in the last week of August since 2010.
The number of Closed Listings decreased for the second consecutive week. Last week there were 1,270 Closed Listings, a 9% decrease week over week and 20% less than this week last year.
The Median Closed Price for homes was $460,000, 2% decrease from last week and 10% higher than this week last year.
The median number of days a listing was in the MLS was 6 days. Days in MLS was unchanged from last week, and 10 days less than this week in 2019.
Buyer demand continued to outpace the number of New Listings hitting the market. As a result, the count of Active Listings slipped to 5,803, a decrease of 3% compared to the Active Listing count pulled on August 24. This is the lowest count of Active Listings we’ve seen since Safer-At-Home orders were put into effect.
The number of listings in Withdrawn status saw a week-over-week increase of 26% and was 12% less than this week in 2019.