Strong Buyer Demand Continues to Drive the Market.

Strong Buyer activity continues to push the Denver Real Estate Market to record levels of closed homes in 2021. July did show a bit of a shift as Buyers paused to enjoy the summer and 4th of July holiday weekend. Lack of inventory continues to be a problem as we saw closed homes drop by a whopping 17% compared to July of 2020. 

New listings were down by 6% from July 2020 which led to a decline in Pending Home Sales which were down by 10% year over year. 

Home inventory dropped by 1 week compared to July 2020. They few new listings that did come to market sold very quickly. Homes sold 16 days faster than they did this time last year. The average days on market dropped to only 9 days further proof that this STRONG Sellers Market is going to continue for the foreseeable future.

The lack of inventory has pushed the average closed sales price for a single family home to $622,092 up 16% from this time last year. 

More Market Stats 

Relief may be on the horizon for weary Buyers as typical slowdowns happen with the upcoming school year. Stay tuned to Denver Realty Pro for the latest on what is happening in the Denver Metro Area Real Estate Market.

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