Denver Real Estate Market Update - May 2018

By
Real Estate Broker/Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 Downtown Denver.JPG

The Denver real estate market saw an uptick in everything this past month!   Luckily we saw an increase in new listings (it gets better every month) along with the sold properties!

 

Personally I saw very brisk activity on every listing I put on the market in the first weekend, if the home was priced under $500,000, most seeing multiple offers and over list price.  As more homes come on the market, we are seeing less multiple offers.   The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver saw a nice increase in new listings for the month of May.  The under contract listings saw an increase over the month of April and sold properties saw an increase from last month.  The Days on Market saw another decrease, which we see this time of year to only 18 days, remaining a strong Seller's Market.   (this includes land, attached properties, single family homes and up to the mega million dollar homes)  

See what homes are currently available - Active Homes for sale in Denver

 

New Listings - 7,749 - up from 6,915 last month  (in 2017 it was 7,244)

Under Contracts - 6,763 - up from 6,656 last month (in 2017 it was 7,153)

Sold Listings - 5,617 -  up from 4,778 last month (in 2017 it was 5,872)

Days on Market - 18 days, down from 20 days last month (in 2017 it was 20 days)

Average Sold Prices - $487,996 - up from $486,587 last month (in 2017 it was $440,342)

Percent of Sold Price to List Price - 100.8%, up from 100.9%  last month

 

Buyers - inventory increased this month, although still could use more for all the Buyers out looking for their new home.    This time of year is usual to see an increase in sales, as the kids are out of school and families find it easier to move.  The price range between $300,000 and $500,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers. 

 

Sellers -    We need more listings priced below $500,000.    Pricing your home is very important, even with low inventory.    If you don't have showings, you won't see an offer!   If you are thinking of selling, but worried you won’t find a replacement home,  put into MLS the fact you require a contingency of a replacement home.

 

Pricing a home is very important in this current market, and here is a chart showing how our median prices have shifted over the last few years.    

Here is a chart showing when the Sellers are getting closest to their list price.    Depending on what time of year you list, pricing is strategic.   

 

 

 

 

Denver’s unemployment rate is still very low - at  2.8%.   Still very low comparing to the national average of 3.9% in April.   Colorado’s population is 5.557 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.   Our state government is working hard on affordable housing issues for both the elderly and first time home buyers, with so many relocating into the Denver metro area.  If our traffic issues would decrease, we could retain more of our residents.  It can be quite frustrating.

 

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

Neighborhoods in Denver

 
  A Denver Metropolitan Realtor

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Rainmaker
4,854,768
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families moving to the area will appreciate your local real estate market reports.

Jun 20, 2018 06:21 AM #1
Rainmaker
635,431
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Great post about the Denver market Joan Cox 

Buyers and sellers need that information. 2.9% unemployment is fabulous

Jun 20, 2018 06:44 AM #2
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Roy, hope anyone moving to the Denver metro area gives me a call.

Jun 20, 2018 07:42 AM #3
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Doug Dawes we have a great economy here in Denver, including our real estate market! 

Jun 20, 2018 07:43 AM #4
Ambassador
1,773,031
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Love this market report Joan Cox on Denver-real-estate- it leaves nothing out and shows you are the local Real Estate Expert

Jun 20, 2018 08:07 AM #5
Rainmaker
1,646,789
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Joan - it is certainly good to see that you have an increase in new listings.

Jun 20, 2018 09:15 AM #6
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

That is sweet Hannah, thank you!

Jun 20, 2018 10:48 AM #7
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, new listings is truly is nice to see.

Jun 20, 2018 10:48 AM #8
Rainmaker
2,994,191
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Joan - this report offers a great deal of insight to use as an overview. 

Jun 20, 2018 11:20 AM #9
Rainmaker
4,224,848
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Joan, you always provide good information about your housing market. You are the local expert.

Jun 21, 2018 03:52 AM #10
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Michael, hope it helps buyers or sellers.

Jun 21, 2018 11:01 AM #11
Rainmaker
3,741,218
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Gita.

Jun 21, 2018 11:02 AM #12
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Rainmaker
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Joan Cox

Denver Real Estate - Selling One Home at a Time
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