Year to date, strong buyer activity has driven a record-breaking pace of Closed Listings across Colorado. This July saw a slight shift in the housing market in some parts of the state as weary buyers enjoyed a long July 4th holiday weekend. Read on to view the latest REcolorado Market Watch reports for Denver Metro Area, Routt County, and Chaffee County.
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Denver Metro Area
Compared to last July when more homes sold than any other July on record, this year saw 17% fewer Homes Closed. Homes Closed was also down 7% compared to last month, due in part to a long July 4th holiday weekend. Strong demand kept prices high and inventory low, with homes spending a median of only four days Active in the MLS. Year to date, home prices continue to see double-digit increases with Single-Family homes up 22% compared to this point in 2020 and Multi-Family/Condo/Townhome prices up 14%.
Routt County
Sellers brought fewer new listings to the market and fewer homes closed in Routt County this July compared to both last year and last month, but there was a 20% increase in homes moving to Pending status compared to last month. Home prices once again reached record highs in July, with Median Closed Price hitting $840,000 and an Average Closed Price of $1,187,726. At the close of July, there were only 83 homes actively for sale in Steamboat Springs.
Chaffee County
Chaffee County saw fewer homes close year over year, but a 44% increase month over month. Home prices climbed 38% higher than last July, reaching $562,500. July ended with 78 Active Listings and 6 weeks of inventory available in Chaffee County. With homes spending a median of only four days in the MLS, New Listings continue selling quickly in Chaffee County, Buena Vista, and Salida.
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.
