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Inventory is on the rise. Year over year, we saw an 11% increase in new listings. From April 2022 to May 2022 we saw a 13.98% increase in inventory, representing continued growth above our seasonal average. The month of May continued to see double digit appreciation year over year with a median sold price increase of 14%. With mortgage rates up, Buyer’s price range may change, demand may ease and many analysts expect more moderate growth in home prices.
Quick bullet points on the Denver Metro:
- The median sold price for single family homes (including attached and detached) in May is $615,000 which shows a 14% increase over May 2021.
- The median number of days on MLS in May 2022 was 4 days, which shows no change from last year in May.
- New listings increased by 11% in May 2022 from this time last year.
- May 2022 had 3652 active listings month end. Average active listings in May are 15,199 (from 1985-2021). Record high May was in 2006 with 30,457 listings and the record low was set last year with 2075 listings.
- The historical average increase in active listings from April to May is 6.7%. This year (as noted above) we saw an increase of close to 14%.
If you have any questions or would like to discuss selling or purchasing a property, contact me today at 303-949-9683 or Amy@MountainTimeRealEstate.com .
