07/01/2023
Exciting updates on the Denver Metro residential real estate market - the numbers are IN! Active listings increased from May to June, igniting a palpable sense of anticipation among buyers as we enter July. The increase in homes hitting the market, a solid 7.2% jump, has injected newfound enthusiasm after a spring marked by limited listing inventory. However, we still find ourselves over 20% below the number of listings observed at the end of June 2022. The influx of competing inventory has led to a (very) modest extension in the average days on market, growing by a single day compared to the previous month. This development of increased inventory, though, presents buyers with increased opportunities in a market that continues to maintain its swift pace. Notably, sellers are continuing to celebrate strong results, as they consistently close deals at just over 100.3% of the list price. Furthermore, the average closing price has experienced a month-over-month increase for both attached and detached homes, showcasing positive momentum in the market.
Stay tuned as we navigate through this dynamic and vibrant metro real estate landscape!
