Market Stats June 20, 2022

May 2022 Denver Market Overview | Inventory on the rise

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 .