Inventory surged with boosts in both new listings and active listings. This influx of supply, coupled with steady demand from last year, has led to a rise in active listings. New listings soared by 34% compared to the previous year, matching levels seen in 2020. Meanwhile, pending listings, indicating demand, saw a modest uptick of 1.6% from last month, slightly surpassing figures from this time in 2023. Notably, the average days on market decreased by 10.3% compared to the previous month, now standing at 26 days.
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Supply - Active Listings
Active listing inventory increased by 20.6% when compared to April 2024. This was an increase of 39.7% when compared to last year at this time.
New Listings
May saw 6,603 new properties enter the market. This data point saw an increase of 16.5% when viewed month-over-month.
Demand - Pending Sales
Demand, a snapshot of the new pending sales, increased by 3.8% when compared to last year. This data point was up 1.6% when compared to last month.
Percent of Closed Price to List Price
This data point decreased by 0.7% compared to last year and was equal to April 2024.
Average Days in MLS
May saw the number of days on the market at 26 days, on average. Last year at this time we saw 21 days, on average. Last month saw 29 days.
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DEMAND - PENDING SALES
Demand, a snapshot of the new pending sales, increased by 5.0% when compared to last month. This data point is nearly identical to what we saw at this time in 2023.
NEW LISTINGS
April saw 5,605 new properties enter the market. This data point saw an increase of 18.9% when viewed month-over-month.
SUPPLY - ACTIVE LISTINGS
The active listing inventory increased by 9.5% when compared to March 2024. This was an increase of 17.0% when compared to last year at this time.
PERCENT OF CLOSED PRICE TO LIST PRICE
This data point decreased by 0.5% compared to last year and was equal to March 2024.
AVERAGE DAYS IN MLS
April saw the number of days on the market at 29 days, on average. Last year at this time we saw 28 days, on average. Last month saw 38 days.
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Reports based on data from REColorado®, Inc.
GREATER METRO DENVER INCLUDES THE FOLLOWING COUNTIES:
- Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
- Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market. •Information deemed reliable but not guaranteed.
- © 2020 Land Title Guarantee Company. All rights reserved.
Mortgage Data Source: Freddie Mac
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