How did the housing market perform this month? What effects in the market are we seeing due to COVID-19? Continue reading below for more statistics on the Denver Metro Area Residential Market for April 2020.
April Denver Metro housing market statistics from REcolorado show the market slowing as a result of the coronavirus. The count for closed listings was 26% lower than last year at this time as buyers postponed their home purchasing. The number of New Listings sellers brought to the market also slowed, down 36% from a year ago. While housing market conditions in April weakened, home prices held somewhat steady, up 1% from last year, but down 2% from last month. On average, homes spent 20 days on the market, 9 days less than this point in 2019.
APRIL 19′: 5,205
APRIL 20′: 3,855
In the Denver Metro Area this April, 3,855 homes closed, a year-over-year decrease of 26%. As compared to last month, sales saw a 19% decrease.
In April, the count of listings in Pending status was 3,318, which is 28% less than last month and down 45%, from April 2019.
Homes Closed Year-Over-Year Change
April 2019 — 5,205
April 2020 — 3,855
AVERAGE DAYS ON MARKET
APRIL 19′: 29 Days
APRIL 20′: 30 Days
In April, homes spent an average of 20 days on the market, 9 days less than this time last year, and 10 days less than last month. On average, single-family residences were on the market 19 days, while multi-family/condos/townhomes were on the market 23 days.
The median number of days a home spent on the market in April was 5, 3 days less than this time last year.
Days on Market Year-Over-Year Change
April 2019 — 29
April 2020 — 20
– 9 days
AVERAGE SOLD PRICE
APRIL 19′: $495,706
APRIL 20′: $502,207
In April, the average price of a home in the Denver metro area was $502,207, a year-over-year increase of 1%, but down 2% from last month.
Single-family residences sold for an average price of $549,306, down less than 1% year over year. The price of multi-family/ condos/townhomes was up 3% from April 2019, at an average of $378,499.
Average Closed Prices Year-Over-Year Change
April 2019 — $495,706
April 2020 — $502,207
APRIL 19′: 7,527
APRIL 20′: 4,843
Throughout the month, sellers brought 4,843 new listings to the market, down 26% compared to last year, and a 28% decrease from last month.
The count of active listings of homes for sale at the end of April was 6,663, 15% lower than last year but 5% higher than the end of last month.
We currently have 7 weeks of inventory, one week more than last month and unchanged from last year.
New Listings Year-Over-Year Change
April 2019 — 7,527
April 2020 — 4,843
Ana Jewett | Patrick Rampi | Blair Vigil | Kyle Malnati | Matt Peterson