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.
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
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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
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March 2019 - Denver Colorado Real Estate Market Statistics & Trends
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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
