September 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

Housing inventory hit the lowest point for any month of August on record with 40% less homes on the market than last year. Single-family homes are scarce as inventory can’t keep up with buyer demand. Average single-family home price reach a new record high at $606,330

Amid the COVID-19 global pandemic, the 2020 metro-Denver housing market is on pace to outperform last year’s record-breaking real estate market. July 2020 hit a record high number of home sales in any given month in metro Denver; while home sales dropped in August compared to July by 18.73 percent, the 5,959 total homes that did sell signified the most sales for any month of August on record. Year to date through August, sales volume was up 3 percent compared to 2019 at over $20 billion.

At month end in August, there were 5,496 active listings, down 41.22 percent year to date compared to last year. Furthermore, there were 11.13 percent fewer homes added to the market in August compared to July. Single-family homes priced between $500,000 and $749,999 had only 0.66 months of inventory. That’s an extreme seller’s market where demand outpaces supply. Despite the tight inventory, pending contracts for all property types was up 7.79 percent month over month and 32.64 percent year over year.

As buyer demand continues to outpace supply, prices continue to go up. The average price for a single-family home hit another breaking record at $606,330 in August, an increase of 5.56 percent year to date. Condo sales weren’t doing quite as well as average August prices were down month over month but still up 2.58 percent year to date.

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 Report” (properties sold between $300,000 and $499,999). In August 2020, 354 homes sold and closed for $1 million or greater, down 14.7 percent month over month and up 52.59 percent year over year. The closed dollar volume in the luxury segment in August was nearly $560 million, down 13.69 percent month over month and up 58.25 percent year over year. Year to date, the Luxury Market has 7.35 percent more sales volume than 2019.

The Denver market is a seller’s market across the board except for condos priced over $1 million where the market is more balanced between buyers and sellers. This increase in sales volume is mostly due to the single-family home segment, which accounts for 91.53 percent of the Luxury Market, and has closed 11.38 percent more volume than last year. That increase indicates healthy growth and it doesn't stop there. New listings in the entire Luxury Market were up 11.7 percent year to date from 2019. Pending contracts were up by 20.17 percent, and the number of home sales was up 8.09 percent.

The month of August played a large role in these strong year-to-date figures. Compared to August of 2019, this August had 62.75 percent more new listings up to 485 from 298. Pending contracts was up a staggering 107.48 percent from last year and the number of homes sold increased 52.59 percent. The only segment of the Luxury Market showing signs of slowing are condos where we have the highest months of inventory of any market segment, at 5.3 months

The highest-priced single-family home sold in August was $9 million in Cherry Hills Village in Denver and the highest-priced condo sale was $3,300,000 in Denver.

DOWNLOAD SEPTEMBER 2020 DENVER REAL ESTATE MARKET TRENDS REPORT

DMAR Market Trends Report Cover : September2020
September 2020 Denver Colorado Real Estate Market Insights : DMARSTATS

DOWNLOAD SEPTEMBER 2020 DENVER REAL ESTATE MARKET TRENDS REPORT


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
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  August 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
  July 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
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  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
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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

Find Your Dream Home with REMAX in Colorado : Denver Colorado Homes For Sale : Denver MLS Property Listings : #JustCallAnts : SearchHomesInDenver.com : Anthony Rael REMAX 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:

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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