The Denver Metro Association of Realtors (DMAR) has reported that listings continue to rise in total numbers throughout the metro Denver area. The number of homes and condos available for sale at the end of June was 9,529, an increase of 7.1 percent from May and up 28 percent from June 2018.
Despite lower borrowing costs, buyers fell short when it came to absorbing new inventory, even in the most affordable segment of the market. Buyers purchased 5,234 single-family homes and condominiums last month, a decline of 14.31 percent from May and 14.34 percent from June of last year. What has been the strongest segment of the market for demand, which is homes and condos priced under $500,000, experienced a 13.5 percent drop in sales in June.
The number of homes on the market is the highest since October 2013, according to DMAR. The inventory remains below the historical average for June of 16,577. The median price of a single-family home sold in June was $465,500, down 0.11 percent from May and up 2.3 percent from a year ago. The median price of a condominium was $310,000, down 1.59 percent from May and up 1.64 percent from a year ago.
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Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – Vickie@DreamsCanHappen.com with “Home Loan Report” in subject field and I’ll send it right over.
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