Denver Metro Market Update for August 2019

September 13, 2019

https://youtu.be/5ISPN1BlA08

Home Sales

Denver Metro home sales saw a slight decrease in August. Throughout the month, 5,540 homes sold, down 6% from last month and down 2% from this time last year.

The number of sold homes year to date is 39,556, just slightly higher than last year at this time.

In August, contracts were put in place on 5,838 homes, up 16% from last year and up 3% from last month.

Home Sales Year-Over-Year Change

August 2018 — 5,663
August 2019 — 5,540
-2%

Prices
Home prices saw a slight decrease for the third consecutive month, down 3% from the summer peak of $502,460. In August, the average sold price for a home was $487,205, down 2% month over month, but 3% higher than this time last year.

In August, single-family detached homes sold for an average price of $535,156, up 3% year over year. The price of condos/townhomes was up 8% from August 2018, at an average of $372,081.

Average Sold Prices Year-Over-Year Change

August 2018 — $472,245
August 2019 — $487,205
+3%