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August 2020 Denver CO
Real Estate Statistics & Market Trends Report
DMAR Denver Real Estate Market Trends Report : Denver Metro
Association of REALTORS
Single Family Homes | Single Family Condos |
Residential Market | Luxury Market ($1Million+)
Denver CO Real Estate Market Snapshots by Anthony Rael, RE/MAX Alliance
Denver Homebuyers not slowed by the
Covid-19 pandemic as record number of pending sales converted to an
all-time high in the number of closings in any month + average
single-family home price catapulted over $600,000
Metro Denver real estate posted a
number of records in July even while the daily number of COVID-19 cases
reached record daily levels in the U.S. Homebuyers were not slowed by
the pandemic as June’s record number of pending sales converted to an
all-time high in the number of closings in any one month. Nearly seven
percent more properties closed in July than Denver area’s previous high
in June 2017.
Pent-up demand from the COVID-19 home-showing shutdown and the continued
lack of choices forced homebuyers to bid against each other. Many
sellers collected multiple offers at or above asking price. That
competition catapulted the single-family home price average up to a
record $601,863, which is 7.68 percent higher than June and 9.92 percent
higher than July 2019.
The number of pending home sales in the entire residential market in
July was down slightly from June’s record but still 27.07 percent higher
than July 2019. Denver wasn’t alone in this real estate mania.
Homeownership nationwide jumped to an almost 12-year high and refinance
activity exploded up 122 percent year over year in mid-July. This
happened despite the economy shrinking by 9.5 percent in the second
quarter of the year from the previous one, and a record 70-year drop in
the gross domestic product.
The DMAR report also includes statistics and analyses in its
supplemental “Luxury Market Report” (properties sold for $1 million or
greater), “Signature Market Report” (properties sold between $750,000
and $999,999), “Premier Market Report” (properties sold between $500,000
and $749,999), and “Classic Market Report” (properties sold between
$300,000 and $499,999). In July 2020, 388 homes sold and closed for $1
million or greater, up 46.97 percent month over month and 54.58 percent
year over year. The closed dollar volume in the luxury segment in July
was $610 million, up 57.64 percent month over month and 62.79 percent
year over year.
   
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AUGUST 2020 DENVER REAL ESTATE MARKET TRENDS REPORT
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AUGUST 2020 DENVER REAL ESTATE MARKET TRENDS REPORT
The highest-priced single-family
home that sold in July was $5,985,000, representing five bedrooms, nine
bathrooms and 9,720 above ground square feet in Cherry Hills Village.
The highest-priced condo sale was $2,650,000 representing four bedrooms,
seven bathrooms and 5,263 above ground square feet in Denver.
The single-family Luxury Market, homes priced $1 million or greater, had
one of its strongest months in almost every statistical category and
July 2020 was completely different from July 2019. There was a 53.45
percent increase in new listings compared to last year. The number of
pending transactions jumped 104.62 percent from 195 last year to 399
this year. The amount of closed deals in July increased 61.06 percent
and both the median and average days in MLS decreased from the previous
year.
While the luxury condo market had a
relatively strong month compared to that of the previous year, it is
clear that the demand for condos was not nearly as strong as the demand
for single-family homes. According to Abrams, people have spent more
time in their homes than they are accustomed to and there is a growing
trend of wanting more space, not just in terms of a house but a yard as
well. This is reflected in a few key categories. The number of new
listings for luxury condos more than doubled from the previous year,
jumping from 33 new listings last year to 68 in July. While pending
sales did increase 66.67 percent, that is not a higher number than the
number of new listings, indicating that supply is finally starting to
outpace demand in this price segment. Furthermore, the number of luxury
condo sales went down from the previous year.
Monthly Report is based on the
most recent previous month of MLS stats from REColorado
Source: Denver Metro
Association of REALTORS® Market Trends Committee #dmarstats
Infographics Courtesy of:
Anthony Rael, RE/MAX Alliance
Archived Denver Real Estate Market Reports
Month-end Inventory, Average & Median Sales
Prices, Days on Market (DOM), Price Appreciation, Sales Volume & More!
Archived Denver Colorado Real Estate Market Snapshots
A graphical look back at market stats and trends since
2015 : Infographics compliments of Anthony Rael
City and County Real Estate
Market Reports
Denver Colorado Real Estate Market Statistics &
Trends Reports - Main Index
October 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
September 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
August 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
July 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
June 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
May 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2020 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2020 -
Denver Colorado Real Estate Market Statistics & Trends Report
February
2020 - Denver Colorado Real Estate Market Statistics & Trends Report
January
2020 - Denver Colorado Real Estate Market Statistics & Trends Report
2019 Year-End : a
30-Year Historical Perspective of the Denver Real Estate Market
December
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
November
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
October
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
September
2019 - Denver Colorado Real Estate Market Statistics & Trends Report
August 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
July 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
June 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
May 2019 - Denver Colorado Real Estate Market Statistics & Trends Report
April 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
March 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
February 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
January 2019 - Denver Colorado Real Estate Market Statistics & Trends
Report
December 2018 - Denver Colorado Real Estate Market Statistics & Trends
Report
November 2018 - Denver Colorado Real Estate Market Statistics & Trends
Report
October 2018 -
Denver Colorado Real Estate Market Statistics & Trends Report
September 2018
- Denver Colorado Real Estate Market Statistics & Trends Report
August 2018 -
Denver Real Estate Market Trends Report
July 2018 - Denver
Real Estate Market Trends Report
June 2018 - Denver
Real Estate Market Trends Report
May 2018 - Denver
Real Estate Market Trends Report
April 2018 -
Denver Real Estate Market Trends Report
March 2018 -
Denver Real Estate Market Trends Report
February 2018 - Denver Real Estate Market Trends Report
January 2018 - Denver Real Estate Market Trends Report
December 2017 - Denver Real Estate Market Trends Report
November 2017 - Denver Real Estate Market Trends Report
October 2017 - Denver Real Estate Market Trends Report
September 2017 - Denver Real Estate Market Trends Report
June 2017 - Denver Real Estate Market Trends Report
May 2017 - Denver Real Estate Market Trends Report
April 2017 - Denver Real Estate Market Trends Report
March 2017 - Denver Real Estate Market Trends Report
February 2017 - Denver Real Estate Market Trends Report
January 2017 - Denver Real Estate Market Trends Report
December 2016 - Denver Real Estate Market Trends Report
November 2016 - Denver Real Estate Market Trends Report
October 2016 - Denver Real Estate Market Trends Report
September 2016 - Denver Real Estate Market Trends Report
August 2016 - Denver Real Estate Market Trends Report
July 2016 - Denver Real Estate Market Trends Report
June 2016 - Denver Real Estate Market Trends Report
May 2016 - Denver Real Estate Market Trends Report
April 2016 - Denver Real Estate Market Trends Report
March 2016 - Denver Real Estate Market Trends Report
February 2016 - Denver Real Estate Market Trends Report
January 2016 - Denver Real Estate Market Trends Report
December 2015 - Denver Real Estate Market Statistics & Trends Report
November 2015 - Denver Real Estate Market Statistics & Trends Report
October 2015 - Denver Real Estate Market Statistics & Trends Report
September 2015 - Denver Real Estate Market Statistics & Trends Report
August 2015 - Denver Real Estate Market Statistics & Trends Report
July 2015 - Denver Real Estate Market Statistics & Trends Report
June 2015 - Denver Real Estate Market Statistics & Trends Report
May 2015 - Denver Real Estate Market Statistics & Trends Report
April 2015 - Denver Real Estate Market Statistics & Trends Report
March 2015 - Denver Real Estate Market Statistics & Trends Report
February 2015 - Denver Real Estate Market Statistics & Trends Report
January 2015 - Denver Real Estate Market Statistics & Trends Report
NOTES:
Interview requests from the
media should be directed to DMAR's Marketing Communications at (303)
300-8490
MLS stats are tracked in arears, so the published report is
for the previous month-end activity
The DMAR 'Premier
Market' is defined as $500,000 to $749,999
The DMAR 'Signature
Market' is defined as $750,000 to $999,999
The DMAR 'Luxury
Market' is defined as $1,000,000 and over
11-Counties:
Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas,
Elbert, Gilpin, Jefferson & Park
Research: Denver Metro
Association of REALTORS® Market Trends Committee
The DMAR Market
Trends Committee, part of the Denver Metro Association of REALTORS®,
provides timely, consistent, and relevant monthly summaries of valuable
local real estate market statistical data for both its members and the
general public. Statistics from the “Denver Metro Real Estate Market
Trends Report” provide data for the following counties: Adams, Arapahoe,
Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin,
Jefferson, and Park. Source of the reported data is REcolorado.
Stats & Infographics
Courtesy of:
Anthony Rael, RE/MAX Alliance
Media Coverage
Former Denver Metro Association of Realtors Market Trends Chairman
Anthony Rael with RE/MAX Alliance is a trusted "go-to" real estate
expert for local, regional and national media. Below is a list of
recent media interviews with Anthony providing expert commentary.
Below are a few of media interviews he's provided commentary on:
Denver Post - Once the king, cash losing a little cachet when
it comes to buying a Denver home
Colorado Public Radio - Climbing Denver Home Prices Finally
Spark Some Building
Colorado Public Radio - Denver Home Prices Are Still
Climbing. The Good News? Price Growth Is Slowing
HousingWire.com : Mile-high Appreciation &
Mile High Appreciation
Colorado Public Radio - As Buyers Spar Over Denver Homes,
Veterans Find Themselves At A Disadvantage
VeroFORECAST Predicts Continuing Strength in Housing Market :
Top Markets Rising 10 Percent Over The Next 12 Months
Denver Business Journal : Denver area housing market to see
big value increase in 2018: Report
Denver7 & TheDenverChannel.com :
Realtors warn of potential security flaw at homes listed for sale
Denver Post : Denver, northern Front Range real estate party
ends in late 2019, new forecast predicts
Denver Business Journal [Video] : Battles are fierce for
bidding homebuyers in metro Denver
Denver7 & TheDenverChannel.com : Thieves breaking into Denver
homes are using real estate lockboxes to do so
5280 Magazine : Denver’s 2017 Real Estate Outlook
Denver Post : Denver area still lags in new home construction
Denver Business Journal : Metro Denver home inventory
shortages persist as prices continue to grow
Denver Post : Metro Denver home prices slightly down, condo
prices up in August: Rush on appraisals
Denver Real Estate Watch : Seasonal real estate peak
Denver Post : Home prices drop in metro Denver as
affordability becomes an issue
Denver Business Journal : Metro Denver home prices continue
strong gains
Denver Real Estate Watch : Record home price takes a breather
Worth
Magazine : Influx of millennials creating exciting investment
opportunities in Denver
Denver Post : Metro Denver sees a big jump in the inventory
of homes for sale in June
Denver7 & TheDenverChannel.com : Finding a home for sale is
hard to come by these days, but some have made it work
Denver Business Journal : Metro Denver home inventory up in
June, but prices climbed faster
Denver Post : Denver median home sold price nears $400,000
CBS4 News : Denver’s Housing Market Just Keeps Getting
Tighter
CBS4 News [Video] : Denver’s Housing Market Just Keeps
Getting Tighter
Denver Post : Frustration rises as a fifth of Denver home
sale deals fall through in April
Denver Business Journal : Metro Denver housing inventory hits
record low for May
Denver Post : Inventory of homes for sale hits record low in
metro Denver
9News Denver [Video] : Low inventory leads to creative
home-buying tactics
Denverite : Do people move to Colorado for legal weed?
Probably not, but no one knows for sure
Denver Post : Denver home sale listings jump 33.6 percent
over record-low February
Denver Business Journal : Denver-area home prices continue to
climb; low-priced inventory scant
Denver Business Journal : $20 billion in metro Denver home
sales in 2015 and other records
Denver Business Journal : Denver home inventory continues
climb in November, but so do prices
Denver Business Journal : Colorado home prices up 12 percent,
but inventory up too
Denver Business Journal : Denver-area house prices up 11%,
but slowdown could be in sight
Denver Business Journal : Colorado's home-price pressure
eases with influx of new listings
Denver Business Journal : Is Denver's residential real estate
market cooling off?
Denver Business Journal : Torrid metro Denver home-price pace
to continue
Denver Business Journal : Passing $400K, average Denver-area
house sale prices hit all-time high
Denver Business Journal : Metro Denver home supply down 32%
in March from year ago
Denver Business Journal : Average home price in metro Denver
tops $390K
Denver Business Journal : Denver metro home sales created a
$22 billion impact in 2014
Denver Business Journal : Denver area home buying continues
slowdown
Denver Business Journal : Residential real estate market
softened in Denver during August
Denver Business Journal : Metro Denver homebuying hits $1.9
billion in monthly sales
Denver Business Journal : Buying a metro Denver home? It will
cost you more than ever
Realty Today : Four Factors That Play Important Roles in
Denver's Real Estate Market in 2016
5280 Magazine : Issues That Will Impact the 2016 Real Estate
Market
MONEY Magazine : Buyers Guide: How to Beat the Competition in
a Hot Housing Market
Denver Business Journal : Anthony Rael, Denver Real Estate
Agent & DMAR Market Trends Chair
Colorado Springs Gazette : Colorado Springs' lower home
prices lure frustrated Denver buyers
Kiplinger Magazine : Money-Smart Tactics to Prosper in This
Hot Housing Market
Denver Business Journal : Anthony Rael, Denver Real Estate
Agent & DMAR Market Trends Chair
TIME-Money Magazine : The Letter That Saved $11,000. Really.
Builder and Developer Magazine : Denver’s Housing Market Just
Keeps Getting Tighter
MSN Money : Millennials shift to buying as rents surge
DenverPost.com : Anthony Rael, Denver Real Estate Agent &
DMAR Market Trends Chair
Glossary of Terms for Real Estate Stats
What is Median Sale Price?
What are Active Listings?
What are New Listings?
What are Sold Listings?
What is Pending/Under Contract?
What are Days on Market?
What is the Affordable Housing Index?
What are Months Supply of Listings?
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