Denver Home Prices Remain Unchanged In June

Dated: 07/17/2018

Views: 188

Image title

In a bit of good news for area home buyers, the median home price in metro Denver remained unchanged in June, which may be a signal that the real estate market in the Mile High City is hitting its seasonal peak. This data comes from a recent report from the Denver Metro Association of Realtors (DMAR), who reported that the median residential sale price in June was $420,000. This includes detached single-family homes and condos.

Other report highlights include:

  • The median price for detached homes was $452,500 while condos sold for a median of $305,000.

  • While the metro-wide median is unchanged from May, it represents an increase of 7.69 percent compared to June 2017, when the median price was $389,000.

  • The number of active listings on the market last month was up by more than 15 percent for a total of 7,436 homes. It’s a welcome increase; however, the historical average for the month is nearly 17,000.

DMAR representatives indicated that since July usually brings a peak in prices for the year, it’s likely we’ll start to see prices begin to drop slightly as summer winds down.

DMAR’s Market Trends Committee Steve Danyliw said that signs are pointing to more balance in the months ahead, as sentiment amongst realtors is that the days of an extreme seller’s market may be behind us. June saw increases in inventory, days on market and months of inventory, which is good news for homebuyers.

Ready to start checking out what the Denver metro area has to offer? 

Contact Metrowest today – we’d love to help you become a homeowner!

Latest Blog Posts

9 Best Burbs For Buyers

Even though a recent study determined that home affordability in Denver was the second-worst in the country, promising new data shows that buyers who expand into nine different suburbs outside the

Read More

Is The Denvers Hot Housing Market Showing Signs Of Cooling

According to the August Denver Metro Real Estate Market Trends Report, the red-hot housing market in the metro area is showing signs of cooling, which is a bit of positive news for would-be buyers

Read More

Where Are Denver Homes Selling Fastest

Anyone who’s on the hunt for a house in the Mile High City will tell you the market here is competitive. Though prices are on the rise and inventory numbers are on the low side, homes in certain

Read More

Despite Affordability Issues Denver Other Colorado Cities Still Favorable For FirstTime Buyers

It’s not often you hear the word “favorable” associated with Denver’s real estate market unless maybe you’re a seller or a home builder. But according to a recent report from NerdWallet,

Read More