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You are here: Home / Blog / So How’s The Market? – June 2020

So How’s The Market? – June 2020

June 12, 2020 By The Denver 100

  • May 2020 inventory of single family and condo decreased 18.8% from a year ago. Total Active listings today is reporting 6,132 compared to 7,556 twelve months ago. 
  • Due to the smaller number of buyers out in April due to the pandemic, the number of closed properties has decreased 44.1% from May 2019. However, the decrease was 10.2% from April to May. 
  • The average price of a home in Denver today is $487,954 compared to $496,824 one year ago. A 1.8% decrease year over year. 
  • The big positive statistic is the number of properties that are “Pending”. May 2020 is actually higher than 12 months ago, an increase of 4.2%. However from April 2020 to May 2020 we have seen a 37.8% increase month over month. Currently there are 8,670 properties Pending to Close – this is why the closings for June and July will start to rebound. 

May 2019 vs May 2020 – Activity in Property Price Points  

  • We will see inventory rise slightly each month. 
  • The growth of pending homes have increased drastically from April to May. 

Why? 

  • Pent up demand from buyers not being able to view homes. 
  • Record low interest rates! 

 With very few homes priced below $1M, you have the perfect storm for sellers in today’s market! 

Filed Under: Blog, Monthly Market Update Tagged With: Denver Housing Market, Denver Market, Denver Real Estate Company, Housing Market, Market Trends, Market Update, Real Estate Market, so hows the market, south metro denver association of realtors

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