Denver real estate market statistics: How much does a home cost in Denver? How long does it take to sell a home in Denver? How fast are home prices rising in Denver? All this and more answered below.
Denver Realtor Reviews: Denver Real Estate Market Statistics August 2018
These Denver Real Estate Market Statistics are based on homes in the REColorado.com MLS within 30 miles of downtown Denver. Download a pdf version of “Denver Realtor Reviews: Denver Real Estate Market Statistics August 2018” by clicking here.
The average price for a home in Denver was $471,233 at the end of August 2018. The median price for a home in Denver was $407,500 at the end of August 2018. There were 5,377 homes sold in August 2018. There was 1.562 months of real estate inventory in and around Denver at the end of August 2018. There were 6,506 new real estate listings in and around Denver during August 2018. The median days on market for real estate listings in and around Denver was 10 days for August 2018.
These Denver real estate market statistics are from the Denver MLS (REColorado.com) . They reflect real estate sales data for the end of July 2018. They do not reflect real estate sales that occurred off market or outside of the Denver MLS.
The average home price in Metro Denver, Colorado
The average home price in Metro Denver is up almost 9% Year Over Year from $432,423 in August 2017 to $471,233 in August 2018. The average home price in Metro Denver is down 1.04% Month Over Month from $476,112 in July 2018.
The median home price in Metro Denver, Colorado
The median home price in Metro Denver is up over 7.6% Year Over Year from $378,650 in August 2017 to $407,500 in August 2018. The median home price in Metro Denver is approximately 1.8% less than the median home price in July 2018 of $415,000.
Number of Metro Denver real estate sales
There were 5,377 metro Denver real estate sales in August 2018, about 5.2% less than the 5,439 real estate sales in August 2017 and just 0.1% less than the 5,383 metro Denver real estate sales in the prior month. For August 2018, the highest number of sales occurred in the $350,000 – $400,000 price point.
Number of new Metro Denver real estate listings
There were 6,506 new Denver real estate listings in August 2018, which is about 3% more than the 6,314 new listings in July 2018 and about 3.7% more than the 6,276 new listings in August 2017. The highest number of new listings this month was in the $350,000 to $400,000 price range.
Months of Metro Denver real estate inventory
There was an average of 1.572 months of inventory on the market in August 2018.
Median days on market for a Metro Denver, Colorado home for sale
At 10 days, the median days on market is 2 days more than August 2017 and 3 more days than July 2018.
Denver Realtor Reviews: Denver Real Estate Market Statistics August 2018 Conclusion
The real estate market within a 30 mile radius of Denver Colorado remains a strong sellers market, especially under $400,000. It has been my experience, and the numbers seem to prove, that the closer you get to $500,000 and if you go higher, there is less competition in general and you get a lot more home for the money at this point in time. We are experiencing a similar drop in buyer demand and drop in sales activity to what we experienced at this time last year, but perhaps slightly more dramatic, which is translating in prices below where they peaked in the spring as inventory increases.