Denver Metro Market Recap May 2022

Denver Metro Market Recap May 2022

Highlights

  • 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

  • 5,445 HOMES CLOSED

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.
 
  • 6,810 NEW LISTINGS

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.
 
  • 5,725 HOMES UNDER CONTRACT

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.
 
  • 10,014 TOTAL HOMES AVAILABLE

Inventory Movement

 
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.

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