So, How’s the Market? May 2024

In May, seller’s added 6,779 new listings to the market, 28% more than last May and 11% more than last month. This is the fifth month in a row of increasing listings.
Buyers executed 4,221 contracts on home in the month of May. At the end of the month, more than 9,000 listings were active.
The median closed price of a home was $600,000 in May, up 2% from last year.
The bright spot in the Denver Metro area housing market is the $1-2M price range, which saw the largest jump in new listings to hit the market in May, up 44% from last year. Buyer activity was strong in this price range, as well, with closings up 22% year over year. These homes spent a median of just 8 days on the market.

The number of closed listings in May was slightly lower than this time last year, but 12% higher than last month.

The median closed price of a home in May was $600,000, which is 2% higher than this time last year and slightly lower than last month.

6,779 new listings were added to the MLS in May which is 28% more than last day and 11% more than last month.

Buyers executed contracts on 4,221 home listings. This was 4% higher than last May and 2% higher last month.

In May, homes spent 9 days in the MLS, 3 days longer than last year at this time.

The bright spot in the Denver Metro area housing market is the $1-2M price range, which saw the largest jump in new listings to hit the market in May, up 45% year over year. Additionally, closings in this price range jumped 22% from last year. These homes spent a median of 8 days actively available for sale.

Standing inventory, or the number of listings actively available for sale at the end of the month, was 70% higher than last May, with 9,029 homes actively available for sale in the Denver Metro area. This is the first time the number of active listings has been above 9,000 since September of 2019.
The gross sales volume in May was 3% higher than May of last year.