If you need help navigating this market, call us at (303) 532-4742. Buyer fatigue is real at the moment, with lots of buyers giving up on their search. Sellers are getting bad advice, listing with no plan or execution. When you work with us, you are working with the very best Denver real estate agents. Don't leave such a huge financial decision to chance.
June 2021 Denver Market Update:
This absurdly strong seller's market continues with the average price of a single-family home in the Greater Metro Denver area up 30% year-over-year to $693,808. Buyers continue to flock to Denver and are more than willing to pay top dollar (and agree to just about anything to get their contract accepted). The Denver real estate market continues to be unlike anything we have seen in previous years and defies prior trends. It will go down as a record-breaking year in nearly every trackable category.
Supply - Active Listings
How low can we go? Active listing is down to 1,878 which is 6,179 less than May 2020.
New listings are down nearly 6% month-over-month and 9% year-over-year for a total of 6,037. So far, 2021 has been anything but typical for real estate and May was no exception. While new listings are definitely coming onto the market, they are moving very quickly!
Demand - Pending Sales
Denver continues to be a hot place to live. While the year-over-year data doesn't give us a full picture because of the pandemic in 2020, we have seen very strong buyer demand for the last two years.
Percent of Closed to List Price
We are seeing an incredible 105.3% closed price to list price.
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Reports based on data from REColorado®, Inc.Posted by Ryan Penn on