The housing market saw record-high prices across Colorado in June. While sellers brought new listings to the market, strong demand from buyers meant homes spent few days active in the MLS, closing quickly and leaving limited inventory as the month ended.
Strong demand from buyers continues in the Denver metro area housing market, with nearly 6,500 homes closing in the month of June. The month ended with slightly more homes in Pending status compared to May. The average price of a home reached another all-time high at $642,167. Single family homes saw an average closed price over $725,000, up 30% from this time last year. Sellers added 7,671 New Listings to the market in June, but high demand from buyers left only 2 weeks of inventory at the end of the month.
As you can see the market is still strong in the Denver area. When it comes to navigating the current status of your specific region our agents can help you find the information you will need. We want all of our clients to be informed of the current trends, and we believe it is an important part of our job to make sure you feel confident as a buyer or seller in today’s ever changing real estate environment.
Read the full market update here.