Below are key market highlights from July 2024 for the Greater Metro Denver area (Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson).
While July saw a decline in active inventory when compared to last month, this data point was still well above what we saw last year at this time. In fact, active detached single family properties saw an increase of 45.95% when viewed year over year. The months supply of inventory (for both DSF and ASF) was at 2.98 months, down 1.72% from June, but up significantly (+63.76%) when compared to last year at this time. July saw 3,752 pending listings, a 1.39% decrease compared to last month. Sellers of both attached and detached watched their properties sit longer as days on market crept up to 31.5 days, on average. This was an increase of 34.04% from July 2023 and an increase of 6.78% from last month. At closing, detached single family homes received an average of 99.2% of the listing price, a slight decrease both month over month (-0.50%) and year over year (-0.80%).
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