Golesh Team

First To Know

Market Stats for Greater Metro Denver

Recent Stats as of May 2023
View of Rocky Mountains with Cherry Creek Lake

Monthly Highlights

Both active listings and new listings saw declines in April when compared to last month. In fact, new listings were just above what we saw this time of year in 2020. Demand remained strong with pending sales up 9.1% compared to last month and days on market at 28, on average. Last month saw 37 days on market, on average. Anecdotally, we hear that eager buyers are clamoring for new listings and are hopeful that as we move into May - and graduation season - we will see additional inventory.

The Highlights

Single Family Average

$761,939

Down 7.2% YoY

Condo/Townhome Average

$462,774

Down 5.2% YoY

Supply - Active Listings

Active listings experienced a 6.7% increase compared to the previous year but dropped 9.6% when compared to last month. April active listing volume falls just above what we saw in 2022.

0
Active Listings

UP

0 %
YoY

New Listings

4,559 new listings came on the market in April. This metric was down 7.2% compared to last month and down 30% when viewed year-over-year. It is unusual for new listings to decline this time of year.

0
New Listings

DOWN

0 %
YoY

Demand - Pending Sales

Demand was down 17.3% year-over-year but up 9.1% compared to last month. This data point indicates that, though inventory is low, what is on the market is moving. Of note, when viewed from 2009 to present, on average, pending sales increased by 8% from March to April.

0
Pending Sales

DOWN

0 %
YoY

Average Days in MLS

The average number of days on the market decreased to 28 days, representing a 24.3% reduction compared to the previous month, and a substantial 250% year-over-year increase (from an average of 8 days during the same month last year). This data point illustrates that inventory is moving fast.

0
Days in MLS

UP

0 %
YoY

Percent of Closed Price to List Price

In April, the closed price to list price ratio was 100.3%, a decrease of 6.6% compared to the previous year. This is a considerable change from the extreme height of April 2022 when the ratio was more than 106% – the highest on record.

DOWN

0 %
Closed to List Price
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

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