- In a sign that the market may be moving toward some normalization, both average & median sales prices were down slightly over last month.
- Available inventory continued its steady & slow climb, with 10% more homes available to buyers over April.
- All segments remain competitive with a 105% close-to-list-price ratio; the luxury segment was most competitive at 107% (closing $101k over the list).
Inside the Numbers
Sales Price Breakdown
$714,495 average sale price for a home purchased during the month.
$615,000 half of the homes sold were purchased for this amount or less.
$36,000 average amount over the list price for homes closed during the month.
Average & median sales prices were both down slightly, an indicator that the market may finally be moving toward some normalization.
New Listings V. Closed Sales By Segment
While down 1% from April overall, new listings outpaced closed homes across each segment, providing more options to buyers.
Days on Market by Segment
Days on the market were up a day to 9 days on average, the break-out by segment provides insight into how homes perform in each price bucket.
By adding new listings to homes available at the end of April, it shows buyers had 10% more homes to choose from over last month.
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.