August 2018 Market Statistics Home Sales for Metro Denver

Greater Denver Metro home sales continued to slow slightly, which is typical for this time of year, especially after a strong summer selling season. Year to date, homes sales are down just one percent as compared to last year. Most notably, sellers continued to add new listings of homes for sale to the market—4 percent more than last month. That, combined with homes staying on the market about four days longer than last month, could give your buyers more options and more time to browse.

Watch the August 2018 market statistics video above and look down below for infographics and reports.


Home Sales
In August, 5,455 homes sold, 5% lower than last year and flat as compared to last month. Year to date, sales are only 1% lower than this time last year.

There was also a decrease in the number of homes going under contract. Throughout the month, contracts were placed on 5,297 homes, a 3% decrease from last month.

Home Sales Year-Over-Year Change

August 2017 -- 5,731
August 2018 -- 5,455
-5%

August 2018 Denver Metro Average Sold Price
Sold Prices
Average home prices saw a decrease for the second consecutive month. In August, the average sale price of a single-family home was $473,115, 1% lower than last month. As compared to August 2017, home prices are up 9%.

The average price of a single-family detached home was $523,018, up 9% year over year. Prices of condos/townhomes were also up 9% from last year, at $345,674.

Sold Prices Year-Over-Year Change

August 2017 -- $432,722
August 2018 -- $473,115
+9%

August 2018 Denver Metro New Listings
New and Active Listings
In August, 6,688 new listings of homes for sale were added to the greater Denver area market, 4% more than last month and 4% more than last year at this time. The count of active listings of homes for sale continued to increase. In August, the number of active listings reached 8,363, 4% higher than last month and 30% higher than this time last year. We continue to have 7 weeks of inventory, unchanged from last month.

New Listings Year-Over-Year Change

August 2017 -- 6,431
August 2018 -- 6,688
+4%

August 2018 Average Days on Market Denver
Average Days on Market
In August, homes spent an average of 33 days on the market, 4 days more than last month and 2 days more than this time last year. On average, single family detached homes were on the market for 29 days, while condos/ townhomes were on the market for 42 days. The median amount of time a home spent on the market in August was 11 days, 2 days more than this time last year. More than half of all homes on the market continue to sell in less than 2 weeks.

Days on Market Year-Over-Year Change

August 2017 -- 31 days
August 2018 -- 33 days
+2 days

August 2018 Home Sales by Price Range
The Greater Denver Metro Market by Price Range
The $300-400,000 price range continues to have the most home sales and new listings; however, activity in this range has seen continued slowing, while activity in the $400-500,000 range has gained momentum. Compared to last year, sales of homes priced $300-400,000 decreased 9% and there were 1% fewer new home listings brought to the market. During the same time period, sales of homes priced $400-500,000 increased 8% and new listings were up 16%, all while average days on market decreased by 2 days.

Post a Comment

Popular posts from this blog

8 Things You Need To Know About Buying A Home

How much do you really know about real estate? Take this quiz

How to use one day codes for SentriLock (For Realtors)

4 Things You Should Never Do After You Get Pre-approved For A Mortgage