Denver’s real estate market is finally starting to slow, partially due to a long July 4th weekend. There is still strong demand for homes, keeping prices high and inventory low. Check out below to see how the Denver area housing market performed in July.
Data from ReColorado from July 1, 2021 to July 31, 2021.
Monthly Sales
Monthly sales in the Denver area decreased, landing at 6,119. This is a significant decrease from July 2020 at a 17% decline.
New Listings
July new listings decreased 6% from July of 2020 at 7,182. Pending listings were also down 10% at 6,030 compared to 6,725 in July of 2020.
Sale Price
Sales price finally decreased compared to June of this year, landing at $622,092. This is still a 16% increase from July of 2020, up from $536,871.
Days on Market (DOM)
As surprising as it may seem, the market continues to speed up. Denver area homes spent an average of 9 days on the market during July, which is an astonishing 16 day decrease from July of 2020.
A Word From Phillip Kranefuss, Homie CO Head of Real Estate
“It was predicted that the average sales price in Denver Metro would set a new record high and cross the $600K threshold in 2021, but we were surprised how quickly it superseded that metric early in Q2 of this year. It was even more surprising that the average sales price jumped all the way up to $640K in June.”
Turn to a Homie
Are you ready to jump into the market as a buyer or seller? Homie’s experienced local real estate agents can help you have the best experience possible throughout the entire process. These agents know how to put together that perfect offer to help you get your dream house if you’re a buyer, and they know how to make sure you get the offer you’re looking for if you’re a seller. Click to start selling or buying and get in touch with your dedicated agent.
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