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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