June’s Market Trends report highlights an incremental increase in the number of active listings in the Denver metro area. This slight uptick provides some relief to a market that has been characterized by low inventory levels for several months. However, the competition among buyers remains fierce, with many properties receiving multiple offers shortly after being listed.
Median home prices have seen a steady climb, underscoring the robust demand in the market. This price appreciation is driven by several factors, including the desirability of the Denver area, limited housing supply, and sustained interest from both local and out-of-state buyers. The increase in prices is more pronounced in certain neighborhoods, making it essential for buyers and investors to research local market conditions.
Home Prices Up 1.91% Percent From Last Year
- In June 2024, the average residence sold for $723,497
- The average single-family home sold for $801,143
- Whereas the average attached home sold for $474,019
June Interest Rates Update
The Bottom Line
The latest report from the Denver Metro Association of Realtors (DMAR) states that there are currently 10,214 attached and detached homes available in the entire Denver Metro area. Pushing at just over an 11.5% increase from last month in available properties; whereas the numbers are up by 68.3% from June 2023. Meanwhile, affordability remains in the same range we’ve been seeing over the last year. The median sales price is $608,000 this past month, a 1.5% increase from 2023. Leaving June 2023 at the slightly lower median price of $599,000.
As we move deeper into the Summer season, there are 5,825 new homes hitting the market. Showing a consistency in this season of real estate, as this time last year reported around the same hitting the market at 5,650. The average days on market Denver Metro area is experiencing at a nearly 4% increase from last month, which comments to the amount of options available with our high inventory numbers.
Unsure about how these stats impact you directly? Get a comprehensive market analysis of your particular neighborhood, and don’t miss out on utilizing a Usaj Realty broker as the numbers in each part of town vary greatly.
Quick Stats
The June Denver Housing Market Quick Stats covers active listings, highs and lows, and new listings with direct comparisons to previous record breaking reports below:
What makes Usaj Realty stand out?
Founded in 2011, Usaj Realty takes pride making our home sellers and buyers goals, our own. We are with you from the beginning to create financial stability, and ease of mind from start to finish. We know the importance of securing generational wealth for the future, and we believe we’re the best fit for the job. Get in touch with our outstanding agents today to receive guidance on the February Market Stats and the flourishing Denver housing market coming with the warmer weather.
