First To Know
Market Stats for Greater Metro Denver
Recent Stats as of May 2022
April Sees Record High Prices & New Listings
April saw the average sales price increase to $820,740 and the median sales price jumped to $680,000. Buyers felt relief with an influx of new listings - April saw a jump of 13.2% in new inventory compared to March. Demand remained high and at the same level as 2019 and 2021, but homes are moving very quickly with just 8 days on market, on average. Anecdotally, we hear that competition remains fierce with multiple offers. We will continue to keep an eye on interest rates as we progress into May and the summer. Key highlights for April are below. Buyers are facing high prices - the average price for a single family home in March was $793,445 (an increase of 8% over last month) and the percent closed price to list price jumped to an astounding 106.5% from 104.8% from February. In March, 21% of closings were cash buyers. It will be interesting to keep an eye on interest rates as that could quell demand. Key highlights for March are below.
The Highlights
Single Family Average
$820,740
Up 19.2% YoY
Condo/Townhome Average
$493,539
Up 14.7% YoY
Supply - Active Listings
Active listings saw an increase to 2,960 – a 29.4% increase over March. While a relief for buyers, this number is still down as compared to the previous 3 years.
0
Active Listings
DOWN
0
%
YoY
New Listings
April saw an increase in new listings. New listings are ahead of 2020 and 2021 and saw an increase of 13.2% when compared to March.
0
New Listings
UP
0
%
YoY
Demand - Pending Sales
Demand remained high in April and increased 14.8% when compared to March. Demand is at the same level as what we saw in 2019 and 2021.
0
Pending Sales
UP
0
%
YoY
Average Price per SqFt - Single Family
The average price per square foot for single family homes was also at an all-time high, up 19.8% YoY and up 1.9% as compared to last month.
$
0
Avg PPSF - Single Family
UP
0
%
YoY
Average Days in MLS
While new listings are coming onto the market, they are moving very fast. In fact, the average is just 8 days for April and the median days in MLS is 4 days for April, equal to April 2021 and March 2022.
0
Days in MLS
DOWN
0
%
YoY
Percent of Closed Price to List Price
Buyers in April were willing to pay, on average, 107% over the list price (an increase of 0.5% as compared to March).
0
%
Closed to List Price
UP
0
%
YoY
Greater Metro Denver includes the following counties:
- Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
- Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market.
- Information deemed reliable but not guaranteed.
- © 2020 Land Title Guarantee Company. All rights reserved.
Information and Statistics provided by Land title Guarantee Company
