Highlights
An indicator of a balancing market, homes closed on average $5,552 over list price, an 88% drop from the high mark of $47,560 in April
Available inventory continues to climb and is up 81% over last year as only 36% of available homes went under contract in July
Average days on market jumped from 10 to 13 days as sellers adjust to a new pricing strategy and buyers are proving to be more patient
inside the numbers
4,279
homes closed
sales price breakdown
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Sales price is down across the board as sellers are lowering list price and fewer buyers are overbidding on homes
6,334
new listings
new listings v. closed sales
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New listings continues to outpace closed homes, further boosting inventory by 22%, even though both are down compared to last month
4,428
homes under contract
days on market by segment
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Days on market is up across all segments, jumping from 10 to 13 days overall, while most homes are seeing almost a full week on the market (6 days)
12,391
total homes available
inventory movement
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A sign we are inching towards a more balanced market, inventory continued to climb as only 36% of available homes went under contract
Data source: DMAR Real Estate Market Trends Report
The Denver Metro Area encompasses 11 counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park.
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