Homes in Denver Metro Area Surpass $410,000 Median Sales Price
Across all of Colorado, there are 30 percent fewer homes for sale across state than one year ago. Active and new listings rise but strong sales, low inventory continue to shape seller’s market.
Key findings from the June 2017 research report include:
Peak summer housing market sees median sales prices for single family homes in the metro region, as well as statewide, increase to new record highs.
Median sales price for single family homes in the Denver metro region rose to $411,000 while statewide that number hit $370,000.
Despite active listings increasing 13 percent statewide and new listings rising 7 percent in the metro region and statewide, the inventory of active listings remains 30 percent lower than one year ago.
Median sales price for a condo/townhome in Colorado rose to $275,000 11 percent higher than a year ago. Similarly, in the Denver metro region, that number hit $277,000, a 12 percent increase over a year prior.
Overall, a continued lack of inventory continues to play a major factor in the market with just 2.4 months supply of inventory across the state and 1.8 months in the Denver Metro area. Overall, inventory is down more than 31 percent across the state and more than 33 percent in the Denver metro area.