July 2021 showed continued shifts in the Denver Metro real estate market with the number of closings and average close price coming down. Inventory is up while days on the market remain steady.
July 2021 Stats:
- Avg Sales Price for Denver Metro: $699,795
- Avg Days on Market: 8
Compared to June 2021 (One Month):
- Avg Sales Price was $728,385 (down 3.9%)
- Days on Market was 8 (no change)
- Inventory is up 29.92%
- Closings down 12.30%
Compare to July 2020 (One Year):
- Avg Sales Price was $601,863 (up 16.40%)
- Days on Market was 24 (down 66.67%)
What Does It All Mean?
The pool of buyers is shrinking, while sellers are pricing homes expecting them to sell higher.
While still a seller's market, buyers have more options, more time to review homes, and less competition.
Sellers who price their homes correctly can still have a small number of days on the market.
I have recently helped both buyers and sellers successfully and happily navigate this market. DM, text, call, or email me anytime if you’re thinking of making a move or have any questions.
Data source: DMAR Real Estate Market Trends Report