11 COUNTY METROPOLITAN DENVER MARKET UPDATE

APRIL, 2020

Market Metrics:

By the numbers, the inventory of available homes for sale is 5,776 homes at March month end, 6,663 homes came onto the market, 4,992 homes went under contract, and 4,296 homes closed at a median sold price of $446,500 and an average sold price of $513,526 resulting in a closed dollar volume of $2.21 Billion. 

Monthly Market Recap:

Single Family (Detached):                                        Condo (Attached):    

Active Month End Inventory is 3,829                     Active Month End Inventory is 1,947

Sold Homes (Closed) is 3,018                                   Sold Homes (Closed) is 1,278                    

Average Price is $567,382                                          Average Price is $386,344

Median Price is $487,950                                           Median Price is $330,000

Average Days on Market is 28                                   Average Days on Market is 31               

Year To Date Market Recap:

Single Family (Detached):                                        Condo (Attached):    

Sold Homes (Closed) is 7,904                                  Sold Homes (Closed) is 3,572

Average Sold Price is $548,938                              Average Sold Price is $371,205       

Median Sold Price is $472,000                                 Median Sold Price is $316,000

Average Days on Market is 36                                 Average Days on Market is 39

Source:  REcolorado.com – April 1, 2020

The above representation for Single Family (Detached) and Condo (Attached) includes real estate activity in the counties of Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park.

Market Facts:

Covid 19 has now impacted the Metropolitan Denver home market.  Active listings are still increasing.  We have seen homes withdrawn from the market.  Many changes are now taking place to complete the sale of a home.  By the end of the month, we were all wondering what was ahead for us, our industry, and our country.  Covid 19 will cause limited activity through the end of May.    

Real estate is local.  While the above is a representation of the Denver market as a whole, please contact a RE/MAX Professional to better understand your specific real estate market.