The June Denver Area Real Estate Update and market final figures for May shows listings down 15.3% from May 2019. We’re still feeling the affects of the COVID-19 pandemic.
The Average Sold Price dropped last month – from $490,024 in April to $483,473 in May. The Average Days on the Market before a home goes Under Contract/Pending is 27 days.
In May 4,262 homes were sold. The absorption rate is higher than it’s been in quite a few years – if no other homes came on the market it would take more than 2 months to absorb/sell all the homes currently on the market (9,811). For quite awhile we were down to less than a month absorption rate. Anything under 6 months absorption rate is still a sellers’ market, so we’re still in a very strong sellers’ market.
That’s the June Denver Area Metro Real Estate Market Update.
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. – [email protected]
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 – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
Also….check these out??