The summer heat is on with Denver’s real estate market. Here’s a look at some of the Denver market statistics from this past month.
We’re in the thick of the summer real estate season here in Denver, with over $4B in sales volume and 7,192 homes sold in June 2021 alone.
The Denver market is sustaining its high-volume activity year-over-year, with a 1% increase of transactions in June of 2021 compared to June of 2020. Inventory in Denver was up in June and new listings increased by almost 20% compared to the month prior. While inventory increased, buyer demand matched the influx of new listings, with the number of transactions increasing 13% compared to May 2021. Even with this recent increase of inventory, the number of active listings has decreased by 50% year-over-year and as of July 5th, there were 3,992 active listings in the Denver Metro Area. This low standing inventory is reflective of trends across the state, where transactions are still happening at consistent levels, but listings are not staying on the market for long. This is shown in the average days on market which is sitting at just 11 days, a 56% decrease from 2020.
While the level of activity has stayed the same compared to last June, the average residential sale price has not. In June of 2020, the average home price in Denver was $518,111. By June 2021, that price increased to $660,068, a 27% increase year-over-year.
Interested in more Denver market statistics? Head over to our Market Trends page for a full run-down. Plus, each quarter, we publish a comprehensive Slifer Report with the latest and greatest stats from popular neighborhoods throughout the city. Check out the latest edition here.
Market trends represent sales in Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park Counties. Data is compiled by Slifer Smith & Frampton Real Estate with data from REcolorado MLS. Statistical information is deemed reliable but not guaranteed. Please contact your Slifer Smith & Frampton Real Estate broker for clarification or more information.