How did the housing market perform this month? What effects in the market are we seeing as stay at home orders have officially lifted. Continue reading below for more statistics on the Denver Metro Area Residential Market for June 2020.
June Denver Metro housing market statistics from REcolorado show signs of a market that is heating up as several indicators showed year-over-increases. The count for Closed Listings was 3% higher than last June and the number of Pending Listings was 28% than last year as buyers re-entered the market. The number of New Listings sellers brought to the market was 2% lower than this time last year, which pushed supply of inventor down to just 5 weeks. Home prices held somewhat steady, up less than 2% from last year. On average, homes spent 24 days on the market.
HOME SALES
JUNE 19′: 5,819
JUNE 20′: 5,922
In June, the average price of a home in the Denver metro area was $508,951, a year-over-year increase of 2%. Compared to last month, there was an increase of 3%.
Single-family residences sold for an average price of $559,290, an increase of 2% year over year. The price of multi-family/ condos/townhomes was up 1% from June 2019, at an average of $370,180.
AVERAGE DAYS ON MARKET
JUNE 19′: 24 Days
JUNE 20′: 24 Days
In June, homes spent an average of 24 days on the market, the same number of days as this time last year, and the same as last month. On average, single-family residences were on the market 23 days, while multi-family/condos/townhomes were on the market 29 days.
The median number of days a home spent on the market in June was 9, unchanged from this time last year.
AVERAGE SOLD PRICE
JUNE 19′: $499,439
JUNE 20′: $508,951
In June, the average price of a home in the Denver metro area was $508,951, a year-over-year increase of 2%. Compared to last month, there was an increase of 3%.
Single-family residences sold for an average price of $559,290, an increase of 2% year over year. The price of multi-family/ condos/townhomes was up 1% from June 2019, at an average of $370,180.
NEW LISTINGS
JUNE 19′: 7,573
May 20′: 7,415
Throughout the month, sellers brought 7,415 new listings to the market, down 2% compared to last year, but up 1% from last month. This is the highest single-month count of New Listings we’ve seen so far this year.
The count of active listings of homes for sale at the end of June was 6,382, 31% lower than last year and 8% lower than the end of last month.
We currently have 5 weeks of inventory, four weeks less than last month and two weeks less than last year.
Ana Jewett | Matt Peterson | Blair Vigil | Kyle Malnati | Holly Vogel
303-482-2828 info@CalibrateRE.com