Denver Metro Market in a Minute - May 2022
The market is shifting. Does that mean it's 2007 all over again? No, not necessarily. The fundamentals are MUCH different now, and the decade of lost construction during the recession will hold inventory levels low for years to come. The fallout from rising mortgage rates seems to be kicking in, creating the slowing market that the fed wants to see. Homes that have been getting 50+ showings and 10 offers are now getting 20 showings and 3-5 offers - still very much a seller's market, just not as intense.
Here are some quick hitters that support that:
New listings ⬆️ 23%
Available listings (spot check today vs. April 17) ⬆️ 67%🤯
Pending sales ⬆️ 4%
Closed sales (these went to contract 30-60 days ago) ⬆️ 12%
Sold price:list price ratio ⬇️ 1%
If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the Denver Metro market. This report covers the seven county area of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson Counties.
Knowing the most important data such as the average sales price, number of homes sold, and days on market will better prepare you to sell your home.
Our market report showcases everything you need to know about local real estate trends.
Average Sales Price
Days of Supply
Average Days on Market
Average Price per Square Foot