Housing market activity in the 11-county Denver Metro area remained constrained in July. Closings of existing homes were down 14% compared to last year. July typically brings a decrease in closings due to summer vacations and the July 4th holiday. Compared to June, there was a 12% decrease in closings.
The median price of a Denver Metro area home was $591,200 in July, which is less than 1% lower than last year at this time. After 5 consecutive month-to-month of increases, home prices dipped 1% from June to July.
In July, homes moved off the market in a median of 9 days.
Denver Metro Area Housing Market Stats: July 2023
Buyer Activity in July
There was a slight dip in buyer activity in July. The number of listings pending sale was 4,080, which is 3% less than last year and 1% lower than last month.
The Impact of Sellers on the Market
Sellers brought 4,817 fresh listings to the market, down 24% from last year and 12% fewer than last month.
Rental Market Stats
The number of listings leased using REcolorado MLS increased 24% from last July. The median leased price in July increased by 3% from last year. At the close of the month, there were 544 active rental properties on the market.
More Colorado Market Stats
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.
