First To Know
Market Stats for Greater Metro Denver
Recent Stats as of May 2023
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
