Denver Housing Market Update May 2021

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.

graph showing monthly sales increase at 55% from 2020

Monthly Sales

Monthly sales in the Denver area increased again, landing at 5,551. This number is also an impressive 55% increase from May 2020.

graph showing new listings decrease by 12% YOY

New Listings

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.

graph showing average home closing price at $620,670

Sale Price

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.

graph showing DOM at 11

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.

Learn more about Denver real estate!