Denver Metro Market Recap August 2022

Denver Metro Market Recap August 2022


  • An expected seasonal shift in the market meant 18.5% fewer homes were listed in August as we transitioned into the school year.
  • Homes closed on average under list price for the first time in 2 years as sellers are realizing they can no longer price at the top of the market.
  • Average days on the market jumped from 13 to 19 days as buyers continue to show more patience with interest rates higher than earlier this year.

Inside the Numbers

  • 4,221 HOMES CLOSED

Sales Price Breakdown

The average close price dropped 4.5% ($31k) as homes closed under list price on average for the first time since July 2020.
  • 5,170 NEW LISTINGS

New Listings V. Closed Sales

The gap between new listings & closed sales was half what we saw in July as a seasonal inventory decrease meant fewer homes to market.

Days on Market by Segment

Buyers were more selective & patient as inventory stayed low & interest rates high, pushing days on the market from 13 to 19 days on average overall.

Inventory Movement

While new listings were down 18.5% from last month, overall available homes (new listings + active listings at month start) were up slightly.
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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