Update on Denver's Housing Market.
Homes in Denver spend 21 days on the market before going to contract, second only to San Francisco and Seattle who are tied at 19 days.
Its no secret that the Denver market is one of the hottest housing markets in the nation, however as of May 2018, it is now one of the fastest selling markets. Homes in Denver are on the market an average of 21 days before going to contract, second only to San Francisco and Seattle where homes are on the market for an average of 19 days. In addition, Denver ranks #2 in terms of inventory, with 1.1 months worth of homes on the market. According to the Denver Business Journal, a six month supply is ideal for market balance between buyers and sellers.
According to the Denver Metro Association of Realtors, as of June 2018, inventory continues to be on the low end with 4,890 single family and 1547 condos for sale within Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park Counties. To put it into perspective, active listings in May from 1985-2017 averaged 16,296.
Denver Housing Market Overview for June 2018 to date for single family homes
- Active inventory: 4,890
- Sold Homes: 3,807
- Average Selling Price: $540,624
- Median Sold Price: $451,000
- Average Days on the Market: 20
Denver Housing Market Overview for June 2019 to date for condos
- Active inventory: 1,547
- Sold Homes: 1,428
- Average Selling Price: $356,337
- Median Sold Price: $305,000
- Average Days on the Market: 16
With an experience real estate professsional, you will be able to navigate through the competitive Denver housing market and find your new dream home. For more information, please click here to read the Denver Business Journals article.