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June 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
Special COVID-19 Edition
While the number of homes sold was down significantly in May, new listings and homes under contract surged.
As stay-at-home restrictions
stemming from the coronavirus loosened on May 9 and businesses began
phased openings in May, metro Denver had a surge of new listings hit the
housing market, up 56.44 percent month over month to reach 7,312.
Despite only 3,152 homes sold in May, down 19.71 percent month over
month and 48.86 percent year over year, homes under contract increased a
substantial 114.86 percent from the previous month.
There were 7,170 active listings at the end of May, 4.6 percent more
than April but 19.36 percent less than the previous year when there were
8,891. Home sellers had the upper hand with low inventory in all price
ranges except for homes priced over $1 million, where there was 9.5
months of single-family luxury home inventory and an abundance of condos
for sale, with more than 25 months of inventory. Anything over six
months is considered a buyer’s market.
As expected, the number of sold homes was down in May following the
weeks of strict home-showing restrictions, dropping 19.71 percent month
over month and 48.86 percent year over year. The average sold price of a
home dropped slightly, back below $500,000 to $495,925. That was 1.24
percent lower than April but 2.43 percent higher year to date.
   
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The DMAR monthly 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” (properties sold between $300,000 and $499,999). In May 2020,
115 homes sold and closed for $1 million or greater, down 28.57 percent
from April and 59.22 percent year over year. The closed dollar volume in
the luxury segment in May was $174.4 million, down 24.43 percent from
April and nearly 60 percent year over year.
In May, there were 569 new listings priced over $1 million on the
market. That is up 116.35 percent compared to the previous month and up
16.6 percent from last year at this time. Pending contracts were notably
up somewhat proportional to the active listings, up 145.6 percent
compared to last month and up 8.87 percent compared to last year. This
shows that supply and demand were staying relative to each other. Having
said that, the number of homes sold last month was down drastically;
reflecting that two months ago, demand had decreased substantially.
There were 1,899 new listings year to date, which is consistent with
last year. The last few months were slower stemming from the pandemic
which reflects how hot the metro-Denver real estate market was at the
beginning of the year. There have been 755 closed properties in the over
$1 million price segment through May. Notably, the close price has
decreased to 96.97 percent of the list price - reflecting the lowest
ratio since 2016.
The highest-priced single-family home that sold in May was $4,500,000,
representing six bedrooms, 10 bathrooms and 14,106 above ground square
feet in Cherry Hills Village. The highest-priced condo sale was
$1,800,000 representing three bedrooms, six bathrooms and 5,646 above
ground square feet in Denver.
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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