Metro Denver Real Estate Market Update for June 2018

By
Real Estate Agent with The Bandy Team - EXP Realty

Overview 
Peak home buying and selling season is in full force across Colorado. New and active listings of homes for sale rose in May, with fewer days on market and no change to weeks of inventory. 
  
  
 Seasonal Housing Market Trends 
 In Colorado, home buying and selling are at the highest level during spring and summer. The Greater Metro Denver Area saw an expected seasonal increase in the number of new homes for sale on the market in May. Home sellers listed 7,754 homes for sale in May, higher than both last month (12%) and this time last year (7%).  Demand remains strong, as 72% of new homes that came on the market resulted in a sale. 

 Will Home Prices Level Out? 
 For the first time this year, the average price of a single-family detached home decreased. The average sold price dropped 1%, from $540,420 in April to $536,535 in May.  Meanwhile, prices of condos and townhomes continued a steady increase, keeping the overall average price on its upward climb. 

Will the Market Slow Down? 
This May, homes spent even less time on the market. With an average of only 27 days on the market, the Denver Metro Area currently has 5 weeks of inventory, unchanged from last month and last year. However, the median number of days a home spent on the market in May was only 5 days. 

Homes continue to sell very quickly in counties and at price ranges with the highest demand from home buyers. Home buyers still face the challenge of low inventory. 

If you’re in the market for a new home, or if you’re considering selling your home, connect with me today. I can provide more housing market statistics tailored to your local area. 

If you have any real estate questions, feel free to contact your Parker real estate experts, The Bandy Team! Let us show you some great homes in Parker, including real estate in Canterberryproperties in The Pinery, or houses in Stonegate
 We are here to help you find your dream home and will guide you every step of the way! 

 Thinking of Selling a Home? Get an automated Denver home value report

 Thinking of Buying a Home? Search all metro Denver homes for sale

 Check out Bandy Team Zillow reviews from our clients. 

 And just a reminder that our business is based on referrals. Who do you know that might benefit from our high level service, whether a home seller or buyer? Please let me know and I promise to take excellent care of them! 

 Until next time, 
 Marianne 

 Marianne Bandy, Team Leader 
 The Bandy Team - EXP Realty 
DenverHomeSearcher.com - Denver Real Estate & Homes for Sale 
720-466-3790 (Call or text) 
 Check out Bandy Team Reviews on Zillow

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Marianne Bandy

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