Denver Market Update - June 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 some very good activity in June.   We are seeing a huge increase of active listings (17%) compared to last month.   Saw a slight decrease in NEW listings but days on market increased by one day.   We may be seeing a slight shift in the market.

  

Being the middle of the summer, we typically see a slowdown with potential buyers taking their vacations, as school is start in less than a month.   The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver saw a slight decrease in new listings for the month of June, and the total number of active listings increased dramatically.  The under contract listings saw a slight decrease over the month of May and sold properties saw an increase from last month.  The Days on Market saw an increase (only by one day), which we see this time of year to only 19 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 - 7,452 - up from 7,749 last month  (in 2017 it was 7,708)

Under Contracts - 6,713 - up from 6,763 last month (in 2017 it was 6,890)

Sold Listings - 5,822 -  up from 5,617 last month (in 2017 it was 6,136)

Days on Market - 19 days, down from 18 days last month (in 2017 it was 18 days)

Average Sold Prices - $490,717 - up from $487,996 last month (in 2017 it was $452,095)

Percent of Sold Price to List Price - 100.5%, down from 100.8%  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 starts showing a bit of a slowdown, making it easier to "win the bid" on a home.  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!    We are seeing a bit of a slowdown, which is normal this time of year - but don't worry, it will pick back up after Labor Day!   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  2.3% for May.   Still very low comparing to the national average of 4.0% in June.   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
2,692,124
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Joan. Pricing is the key issue in any market. Thanks for the update. Enjoy your day!

Jul 12, 2018 05:10 AM #1
Rainmaker
639,037
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good morning 

Thank you for sharing your information with us Joan Cox 

Have a great day.

07/12/2018  

Jul 12, 2018 05:10 AM #2
Rainmaker
4,053,834
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jul 12, 2018 05:11 AM #3
Ambassador
2,750,823
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Those numbers are astounding Joan. Denver seems to be having a hot summer in real estate.

Jul 12, 2018 05:49 AM #4
Rainmaker
4,316,347
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Joan.  Thanks for the information and update about the Denver real estate market.

 

Jul 12, 2018 05:55 AM #5
Rainmaker
3,577,048
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

Wayne, sellers need to listen to their listing agent when there is a slight change in the market.

Jul 12, 2018 06:37 AM #6
Rainmaker
3,577,048
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

Thanks for stopping by Anthony! 

Jul 12, 2018 06:38 AM #7
Rainmaker
3,577,048
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

Thanks Gita, always nice to see what the market is doing, so we are able to guide our clients.

Jul 12, 2018 06:39 AM #8
Rainmaker
3,577,048
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

Paul, HOT is a couple of ways - 29 days over 90 degrees too! 

Jul 12, 2018 06:39 AM #9
Rainmaker
3,577,048
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

Thanks Gabe.

Jul 12, 2018 06:39 AM #10
Rainmaker
4,322,731
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Joan Cox well, that's what I call a booming market.... everything up and the deals are still flowing....

Jul 12, 2018 07:02 AM #11
Rainmaker
4,657,181
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will appreciate your local real estate market reports.

Jul 12, 2018 08:19 AM #12
Rainmaker
1,400,845
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

Jul 12, 2018 08:32 AM #13
Rainmaker
729,650
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Great market report. We are seeing in our market place the buyers are extremely price sensitive and sellers are now adjusting their expectation to the current market trend! 

Jul 12, 2018 03:41 PM #14
Rainmaker
2,447,714
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Joan. More new listings means more homes closed and sold. We are not seeing that yet in Charlotte, but I do wish that we were!

Jul 13, 2018 04:59 AM #15
Rainmaker
3,577,048
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

Barbara, we do have a booming market!

Jul 13, 2018 04:25 PM #16
Rainmaker
3,577,048
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 so much Roy! 

Jul 13, 2018 04:26 PM #17
Rainmaker
3,577,048
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 so much Jeremy! 

Jul 13, 2018 04:26 PM #18
Rainmaker
3,577,048
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

Eileen Hsu so nice to see you again, and nice to hear about your market too.

Jul 13, 2018 04:27 PM #19
Rainmaker
3,577,048
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

Nina, we are actually seeing more and more listings, so wondering if we are seeing a slight shift in the market.

Jul 13, 2018 04:27 PM #20
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Rainmaker
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Joan Cox

Denver Real Estate - Selling One Home at a Time
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