As The Summer Temps Soar So Does The Denver Real Estate Market...
We are in the middle of the dog days of summer and the temps are as hot as the Denver Real Estate Market! Strong demand from Buyers continue to fuel the hot market with nearly 6,500 homes closed in June. Pending home sales were also up from May as well.
The average sale price for a home reached another all time high in June at $642,167! Single family homes saw an average sales price of $725,000 which reflected a WHOPPING 30% increase from this time last year!
Even with Sellers adding 7,671 new listings in June, strong demand from Buyers left only two weeks of available inventory by month's end.
The strong Sellers Market will continue for the foreseeable future. We are seeing a little relief in certain areas as some properties are seeing price reductions. Each neighborhood is different which makes it very important to have a local expert assisting you during this process.
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