While inventory is on the rise,
so are prices. The average price of a single-family detached home in
Denver Metro is $825,073, representing a 3.93 percent increase from
last month. With consecutive months of increased prices and interest
rates, a buyer's monthly mortgage has increased as well. The average
close-price-to-list-price ratio in April for the detached market was
107.29 percent. With the increase in supply, the
close-price-to-list-price ratio is an example of how the market was
reacting a month ago.
The relationship between closed sales and month-end active inventory
impacts the supply and demand of the market and, therefore, many
other statistics including average sales price. The most significant
factor influencing the supply and demand of this market is interest
rates. With many individuals refinancing due to low-interest rates
on their house and interest rates north of five percent, there is
minimal financial incentive to move.
The increased interest rates are already impacting the amount of
inventory sitting on the market. While Denver Metro is still
relatively low in inventory, the word “historic” is no longer
applicable as there were 610 fewer properties on the market last
year compared to today. The market usually sees an 8.59 percent
increase in month-over-month inventory. This month, it saw an
outstanding 44.26 percent increase.
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).
Meanwhile, in the Luxury Market, inventory is on the rise, with a
57.65 percent increase in new listings from this time last year.
However, as a result of inflation, more homes will cross the
threshold into the Luxury Market simply due to list price or more
likely due to bidding wars that end 20 percent or more over the
original ask price.
In part due to seasonality, new listings for detached homes rose
26.62 percent from last month. However, this is a 63.73 percent jump
from last year for new listings. Pending sales rose 27.15 percent to
562 properties and 599 closed homes, a 17.91 percent increase from
last month. Unsurprisingly, the average days in MLS decreased to 14
days from 17 last month, while the median days in MLS of four held
strong month-over-month.
The close-price-to-list-price ratio jumped slightly to 108.45
percent up just 0.39 percent from last month. Most notably, this
data point was 102.62 percent this time last year, which means there
has been a 5.68 percent rise in the last year. As such, the price
per square foot total also jumped 16.27 percent from last year to
$386 per square foot.
Digging Deeper: April
2022 Records
ACTIVE LISTINGS
(Attached) 759 represents the lowest April on record. The previous
record was 2015 with 950 active listings.
CLOSE PRICE — MEDIAN
(Residential) $624,950 represents the highest number on record. The
previous record was March 2022 of $602,000.
(Detached) $684,550 represents the highest number on record. The
previous record was March of $660,000.
(Attached) $440,000 represents the highest number on record. The
previous record was March 2022 of $422,000.
CLOSE PRICE — AVERAGE
(Residential) $726,988 represents the highest on record. The previous
record high was March 2022 of $702,694.
(Detached) $825,073 represents the highest on record. The previous
record high was March 2022 of $797,700.
(Attached) $495,078 represents the highest April on record. The previous
record was 2021 of $440,768.
DAYS IN MLS — MEDIAN
(Residential) 4 days represents a tie for the lowest amount on record.
The previous record low was set 7 other times.
(Detached) 4 days represents a tie for the lowest amount on record. The
previous record low was set 8 other times.
(Attached) 4 days represents a tie for the lowest amount on record. The
previous record low was set 7 other times.
DAYS IN MLS — AVERAGE
(Residential) 8 days represents the lowest number on record. The
previous record low of 9 days was set in July of 2021.
(Detached) 9 days represents the lowest April on record. The previous
record low was 2021 at 10 days.
(Attached) 8 days represents the lowest number on record. The previous
record low of 12 days was set in March of 2022.
MONTHS OF INVENTORY (MOI)
(Attached) 0.52 months represents the lowest April on record. The
previous record low of 0.64 was in 2021.
Each Monthly Report shows MLS data based
through the end of the previous month from REColorado
Source: Denver Metro
Association of REALTORS® Market Trends Committee #dmarstats
Infographics/Snapshots Courtesy of:
Anthony Rael, RE/MAX Alliance
City and County Real Estate
Market Reports
Denver Colorado Real Estate Market Statistics &
Trends Reports - Main Index
2022
August 2022 -
Denver Colorado Real Estate Market Statistics & Trends Report
July 2022 -
Denver Colorado Real Estate Market Statistics & Trends Report
June 2022 -
Denver Colorado Real Estate Market Statistics & Trends Report
May 2022 - Denver
Colorado Real Estate Market Statistics & Trends Report
April 2022 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2022 -
Denver Colorado Real Estate Market Statistics & Trends Report
February 2022
- Denver Colorado Real Estate Market Statistics & Trends Report
January 2022
- Denver Colorado Real Estate Market Statistics & Trends Report
2021
December 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
November 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
October 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
September 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
August 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
July 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
June 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
May 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
April 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
March 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
February 2021 -
Denver Colorado Real Estate Market Statistics & Trends Report
January 2021 - Denver Colorado Real Estate Market Statistics & Trends Report
2020
December 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
November 2020 - Denver Colorado Real Estate Market Statistics & Trends Report
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
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
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
2018
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
2017
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
2016
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
2015
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
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
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.
Real Estate Snapshots & Infographics
Courtesy of:
Anthony Rael, RE/MAX Alliance
