The housing market saw record-high prices across Colorado in June. While sellers bring New Listings to the market, strong demand from buyers meant homes spent few days Active in the MLS, closing quickly and leaving limited inventory as the month ended.
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Denver Metro Area
Strong demand from buyers continues in the Denver metro area housing market, with nearly 6,500 homes closing in the month of June. The month ended with slightly more homes in Pending status compared to May. The average price of a home reached another all-time high at $642,167. Single family homes saw an average closed price over $725,000, up 30% from this time last year. Sellers added 7,671 New Listings to the market in June, but high demand from buyers left only 2 weeks of inventory at the end of the month.
Routt County home prices continued to hit record highs. Median Single-Family Residential prices were 89% higher compared to last year and the median price for Condo/Townhome/Multi-Family properties saw a 23% year-over-year increase. With high demand, homes spent a median of only 5 days Active in the MLS. Sellers brought more New Listings to the market than last month, ending the month with 7 weeks of inventory.
Chaffee County home prices continued to see record highs in June, with Median Closed Price hitting $565,000, up nearly 40% from last year. Year over year, median prices for both Single-Family Residential and Condo/Townhome/Multi-Family properties increased significantly, up 33% and 65% respectively. Sellers brought new listings to the market, ending the month with 78 Active Listings.
REALTOR® Association Market Statistics
In addition to the market statistics reports produced by REcolorado, we provide housing market data and collaboratively produce statistics reports with local REALTOR® associations.