The Denver Metro Area continues to be a “hot” market. With so many people trying to buy a home and low inventory, buyers have to be timely and aggressive, while sellers are cherry-picking the best offer out of many. Here is some good news for buyers, inventory increased, so you have a little bit more than last week to checkout.

Week of August 3, 2020, Market Stats:

• Throughout the week, sellers brought 1,666 New Listings to the market, an increase of 7% from the previous week, and 12% more than last year at this time.
• The count of Pending listings was 1,633 the week of August 3, a 2% week-over-week decrease, but 30% more than the count reported this week last year.
• Last week there were 1,087 Closed Listings, a 40% decrease week-over-week, and 2% less than this week last year.
• The median number of days a listing was in the MLS was 7 days. Days in MLS was unchanged from last week and 9 days less than this week in 2019.
• On August 10, 2020, the count of Active Listings was 6,167, a decrease of less than 1% compared to the Active Listing count pulled on August 3.
• The number of listings in Withdrawn status saw a week-over-week increase of 66% and was 9% higher than this week in 2019.
• The Median Closed Price for homes was $465,000, unchanged from last week, and 8% higher than this week last year.

If you need help finding a place or simply want information regarding the buying process, give a call.