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Denver Metro Area
New inventory was the hot topic for May, where we saw the fifth consecutive month of increases in new listings of homes for sale. Sellers brought new inventory to the market to take advantage of high home prices. The market remains active as buyers continue writing contracts and closing on homes. Both the number of listings that moved to Pending and the number of listings that Closed increased from last month.
Year over year, prices continue to see double-digit gains; however, the median closed priced fell 1% from April as supply increased at a faster rate than closings. Buyers paid a median of 4.2% above list price, which was down .5% from April. The market for homes priced above $1M is strong and growing stronger. When comparing this May’s data to May 2021, the number of new listings priced above $1M was 67% higher and there were 51% more closings.
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.