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May 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
Denver’s housing market saw major
decline with home showings dropping
to a record low mid-April due to the Stay-at-Home order.
Impacts of the coronavirus on the Metro-Denver housing
market were evident in April with new listings, homes under contract and
home sales significantly down. In April there were 4,679 new listings on
the market, down 29.81 percent month over month and 37.82 percent from
the same month last year. At month’s end, 3,280 homes were under
contract, down 29 percent month over month and 45.79 percent year over
year. The number of homes sold, at 3,603, was down 24.34 percent month
over month and 30.78 percent year over year. Total sales volume in April
was $1.8 billion, down 25.69 percent over March and 29.73 percent year
over year.
On March 9, home showings in the Denver area started dropping from a
2020 high to a low on Saturday, April 18. As the market adapted, home
showings started to increase. Colorado’s stay-at-home order switched to
a safer-at-home plan on April 27 and on that day approximately 3,500
showings were scheduled, more than any other Monday in 2020. The number
of showings have continued to increase every day since.
Despite fewer new listings, the slowdown caused a build-up in the number
of active listings at month’s end, up from 5,776 in the previous month
to 6,855 at the end of April. That’s an 18.68 percent increase month
over month but 2.24 percent less than April 2019. For comparison, the
number of active listings at the same time in 2019 was 7,012 and in
2016, 2017 and 2018 it was in the low five thousands.
Even with the increase in active listings at month’s end, the 11-county
metro area was still a seller’s market in all price ranges except the
Luxury Market. The months of inventory was the lowest in homes between
$300,000 to $399,999, with less than a month available, and highest in
condos priced over $1 million, with a little more than seven months of
inventory.
   
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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 April 2020, 149 homes sold and closed
for $1 million or greater, down 33.18 percent from March and 40.64
percent year over year. The closed dollar volume in the luxury segment
in April was $214 billion, down 38.21 percent from March and 46.95
percent year over year.
Year-to-date through April, there was $875.4 million
in single-family home sales, down 3.76 percent year over year.
Year-to-date condo sales were down 13.35 percent in April to $107.5
million, compared to $124 million year over year.
In the luxury segment, 132 single-family homes closed, down from 197
month over month and 219 year over year, which is a drop of 33 percent
and 39.73 percent respectively. The sales volume dropped 39.04 percent
from $308.2 million to $187.9 million month over month. Speaking to the
strong start to 2020, year over year, 575 single-family homes have sold
year to date, which is just shy of the 581 homes sold in 2019.
The luxury condo segment reflected 17 sold homes, down from 26 the prior
month, which resulted in a drop of 34.62 percent month over month and
46.88 percent from this time last year when 32 properties sold. The sold
volume dropped 31.51 percent month over month from $38.3 million to
$26.2 million in April. This is a 46.53 percent difference from this
time last year with over $49 million in sold volume. The luxury condo
segment also had a great start to the year with 72 homes sold year to
date in 2020, just slightly down from 73 units sold in 2019.
The highest-priced single-family home that sold in April was $3,275,000,
representing five bedrooms, six bathrooms and 4,874 above ground square
feet in Denver. The highest-priced condo sale was $3,300,000
representing three bedrooms, four bathrooms and 3,357 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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