denver’s june housing report is out. what's changing and what it means for buyers, sellers
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By Oscar Contreras | Published on July 6, 2022
The number of homes and condos up for sale in the Denver metro rose by nearly two-thirds from May to June and the number of properties available on the market grew by nearly twice from a year ago, according to the latest market trends report from the Denver Metro Association of Realtors.
It may seem like good news for potential homebuyers looking to buy right now, but higher interest rates are driving up home prices, which would explain why there’s more demand now compared to prior months, according to Andrew Abrams, the chairman of the DMAR Market Trends Committee.
In this 360 In-Depth report, we’ll look at:
What the latest numbers show when it comes to Denver's housing market
Why renters aren't faring much better when it comes to finding housing
What the latest report means for buyers and sellers
The impact mortgage rates are having on how much you're paying month-to-month
What experts are warning about if you're thinking of moving anytime soon
Let’s break down the numbers 🏡
The number of active listings in June for both single-family homes and condos was 6,057, a 65.85% increase over the month of June.
The price for a single-family home in the Denver metro also keeps going up, though not by a lot, which, I guess, is good news? In June, the median price for a home was $810,415 – a 0.58% increase from a month prior and a 12.31% increase year-over-year.
Condo buyers aren’t faring better on this front. The median price for a condo in June was $430,000, which saw no difference from a month prior, but there was a 13.46% increase compared to 2021.
On average, listings are only in the market for about 10 days, the report shows.
Click here to view an interactive full screen version of the below chart.