Denver real estate market statistics: How much does a home cost in Denver? How long does it take to sell a home in Denver? How fast are home prices rising in Denver? All this and more answered below.
Denver Realtor Reviews: Denver Real Estate Market Statistics July 2018
These Denver Real Estate Market Statistics are based on homes in the REColorado.com MLS within 30 miles of downtown Denver. Download a pdf version of "Denver Realtor Reviews: Denver Real Estate Market Statistics July 2018" by clicking here.
The average price for a home in Denver was $476,707 at the end of July 2018. The median price for a home in Denver was $415,000 at the end of July 2018. There were 5,269 homes sold in July 2018. There were 1.496 months of real estate inventory in and around Denver at the end of June 2018. There were 6,310 new real estate listings in and around Denver during July 2018. The median days on market for real estate listings in and around Denver was 7 days for July 2018.
These Denver real estate market statistics are from the Denver MLS (REColorado.com) . They reflect real estate sales data for the end of July 2018. They do not reflect real estate sales that occurred off market or outside of the Denver MLS.
The average home price in Metro Denver, Colorado
The average home price in Metro Denver is up 7.4% Year Over Year from $443,664 in July 2017 to $476,707 in July 2018. The average home price in Metro Denver is down 1.02% Month Over Month from $484,904 in June 2018.
The median home price in Metro Denver, Colorado
The median home price in Metro Denver is up over 8.6% Year Over Year from $382,100 in July 2017 to $415,000 in July 2018. The median home price in Metro Denver is approximately 0.7% less than the median home price in June 2018 of $418,000.
Number of Metro Denver real estate sales
There were 5,269 metro Denver real estate sales in July 2018, about 3.2% less than the 5,439 real estate sales in July 2017 and about 12% less than the 5,919 metro Denver real estate sales in the prior month. For July 2018, the highest number of sales occurred in the $350,000 - $400,000 price point.
Number of new Metro Denver real estate listings
There were 6,310 new Denver real estate listings in July 2018, which is about 16% less than the 7,321 new listings in June 2018 and about equal to the 6,398 new listings in July 2017. The highest number of new listings this month was in the $350,000 to $400,000 price range.
Months of Metro Denver real estate inventory
There was an average of 1.496 months of inventory on the market in July 2018.
Median days on market for a Metro Denver, Colorado home for sale
At 7 days, the median days on market is the same as July 2017 and 1 more day than June 2018.
Denver Realtor Reviews: Denver Real Estate Market Statistics July 2018 Conclusion
The real estate market within a 30 mile radius of Denver Colorado remains a strong sellers market, especially under $400,000. It has been my experience, and the numbers seem to prove, that the closer you get to $500,000 and if you go higher, there is less competition in general and you get a lot more home for the money at this point in time. We are experiencing a similar drop in buyer demand and drop in sales activity to what we experienced at this time last year which is translating in prices below where they peaked in the spring.