It’s no secret Denver has a red-hot real estate market right now. Let’s check out how the Denver area housing market performed in May!
Data from ReColorado from May 1, 2021 to May 31, 2021.
Monthly sales in the Denver area increased again, landing at 5,551. This number is also an impressive 55% increase from May 2020.
May had strong new listing numbers and had 6,491 new listings, which is a slight decrease (12%) from May of 2020. However, the number of pending listings did go up 4% from 2020 landing at 6,788.
Sales prices continue to rise for Colorado homes. The average closing price in May was $620,670, a +26% year-over-year increase. This was a slight decrease from the month of April.
Days on Market (DOM)
The market is still speeding up. Denver area homes spent an average of 11 days on the market during May, which is an astonishing 13 day decrease from the same time last year and two day decrease from the previous month.
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.